Retail giant Lulu expands its footprint in Saudi Arabia by opening a new hypermarket in Dammam; announces a solar project to amplify its environmental commitments.
In the bustling city of Dammam, a new LuLu hypermarket has opened its doors, offering a wide range of products and exclusive in-augural promotions. This expansion is part of LuLu Retail's continued support for Saudi Arabia's Vision 2030, a national plan aimed at diversifying the economy and creating opportunities for job creation, sustainability, and affordable retail options.
The new hypermarket in Al-Orouba District spans 81,268 sq ft, adding to LuLu Retail's existing 68 outlets in the kingdom. The store offers a diverse product range, including groceries, electronics, home furnishings, stationery, and toys, providing residents with a world-class shopping experience.
LuLu Retail's expansion strategy in Saudi Arabia is closely aligned with Vision 2030. The company has launched a rooftop solar power project at its central warehouse in the Eastern Province, a 707.7 kWp plant generating over 1.19 million kWh annually. This project, developed in partnership with the Kanoo-CleanMax joint venture, will reduce LuLu Group's carbon emissions by approximately 535 tons per year, supporting the Kingdom's Vision 2030 sustainability goals.
In addition to the solar power initiative, LuLu Retail has also launched LOT stores, a value retail concept, across Saudi Arabia. These stores, priced under SR22, aim to compete with online marketplaces on daily essentials, increasing accessibility and supporting Vision 2030’s emphasis on quality and affordability in retail.
The solar plant's inauguration and the opening of the new hypermarket were attended by Engr. Fayez Bin Ali Al Asmari, head of municipality - West Dammam, Engr. Ibrahim Abu Abaah, general secretary - Albeer Association, Yusuffali M A, chairman of LuLu Group, Ahmed Abdulla Ali Mohamed Kanoo, Talal Fawzi Ahmed Ali Kanoo, and Manoj K Tripathy.
Yusuffali M A, chairman of LuLu Group, stated that the launch aligns with Vision 2030 by generating jobs, enhancing retail infrastructure, and delivering a world-class shopping experience. The solar plant's operation and the expansion of LOT stores are significant steps towards LuLu's long-term commitment to the Kingdom’s socio-economic development strategy.
With Saudi Arabia now contributing about SR5.5 billion (around 20%) to LuLu Group's revenues and employing over 12,000 people in its operations, LuLu Retail plays a crucial role in transforming Saudi retail in line with Vision 2030's diversification and job creation objectives. The company's commitment to sustainability, affordability, and job creation underscores its dedication to the Kingdom's socio-economic development strategy.
- The expansion of LuLu Retail in Dammam, with the opening of a new hypermarket, contributes to the entertainment sector, providing residents with a world-class shopping experience.
- As part of its commitment to Vision 2030, LuLu Retail has launched LOT stores, offering affordable options for daily essentials, which goes hand in hand with the news of promoting quality and affordability in retail.
- In line with its dedication to Saudi Arabia's Vision 2030, the rooftop solar power project at LuLu Retail's central warehouse in the Eastern Province is a significant move towards business and finance sustainability, reducing carbon emissions and supporting the Kingdom's environmental goals.
