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FINANCIAL NEWS
LuLu to invest USD200m in Malaysian market
24 May 2014
(MENAFN) United Arab Emirates-based supermarket chain LuLu Group said it plans to invest USD200 million on halal-only outlets in Malaysia in the next two years ahead of expanding into other south Asian markets, The Peninsula Qatar reported.
Lulu has 110 supermarkets and hypermarkets across the Gulf, Yemen, Egypt and India.
Malaysia, where it plans to open five hypermarkets, will be the group”s first market in South-East Asia.
“With a population of over 29 million, Malaysia needs quality halal-only hypermarkets and we will be the first to operate 100 percent halal hypermarkets there,” LuLu owner said.
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