LULU Group to open two more malls in India

The UAE-based and Abu Dhabi headquartered Lulu Group is to build two new shopping malls in Chennai and Bengaluru. The NRI-owned Group already has it's retail presence with a mall in Kochi and also has three more projects in Vishakhapatnam, Thiruvananthapuram and Lucknow. The end of this year is when the Chennai and Bengaluru malls are expected to be operational.

Mr Yousuf Ali, Chairman and Managing Director of Lulu Group stated that they had already acquired an ongoing mall development in Bengaluru and would be building their own one in Chennai. He added that there was a lot yet to do in India's retail space as her noted that mall projects gave the group a very good platform to expand the company's presence in India.

He also said that it was easier to acquire an ongoing project (Bengaluru) compared to hunt for a big area of land and that the price was right and hence they closed it promptly.

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