Lulu group is going to open 12 malls in India
Lulu Group, which currently has five operations centres in Kochi Thiruvananthapuram, Thrissur, Bengaluru and Lucknow, plans to open 12 centres across India within the next three years, spread over a total development area of about five million square feet. , its director said on Saturday. The UAE-based group said it plans to set up malls in Noida, Gurugram, Chennai and Bengaluru.
Speaking to Moneycontrol, Shibu Philips, Director of Lulu Group India, said 12malls will appear within the next three years in Calicut, Tirur, Perinthalmanna, Kottayam, Palakkad in Kerala, Prayagraj, Noida, Varanasi, Hyderabad, Bengaluru Ahmedabad (in Uttar Pradesh), and Chennai
“The plan we have is to build 12 shopping centres over the next three years. They will be in Calicut, Tirur, Perinthalmanna, Kottayam, Palakkad in Kerala and Noida, Varanasi, Prayagraj, and Ahmedabad (in Uttar Pradesh), Hyderabad, Bengaluru and Chennai,” said Shibu Philips.
He added that after three years, of the six commercial centres currently leased, the total leasable area is 3 million square feet. sq ft project), 2 million sq ft in Ahmedabad and one million in Chennai, half a million in Hyderabad for a total of 4.5 million sq ft and if Pragyaraj also comes, we’ll have a total of about 5 million square feet grow the business over the next four years,” Phillips told Moneycontrol.
Providing details, Shibu said Uttar Pradesh is an important market for Lulu Group and added that the group is in the process of acquiring land in Prayagraj and Varanasi, after which they may look into Kanpur of Taboola
“The format we are looking at for these markets (supermarket or shopping mall model) will be a decision that management will make after considering the market opportunities and potentials. school. It’s still in the concept stage,” he said. He also added that the group invested Rs 2,000 crore in the Lucknow property and also provided a food processing centre in the state to which Rs 500 crore was already set aside.
Philips added: “Another Rs2,000 crore is planned for the expansion in Uttar Pradesh as far as hypermarkets and malls are concerned. Talking about the mall in Noida, the manager said the mall is still in the planning stage and the location will be decided based on the market opportunity. “We are currently doing market research. If it is a full-fledged shopping mall, it should be ready within three years and if it is a hypermarket, it should be within a year,” he said.
As for the Gurugram shopping mall, the manager of the Lulu group said he took up space in the shopping centre to make a hypermarket. “It is under construction and it is also revealed that it is going to be operational in about a year and a half,” he said.
Abu Dhabi-based Lulu Group has announced ambitious expansion plans in India. The group plans to invest more than INR 190,000 million ($237 million/AED 871 million). These include shopping malls, hypermarkets and food processing centres. In an interview with MoneyControl.com, Lulu Group India’s mall director Shibu Philips said that over the next four years, he plans to open 12 malls and over five million square feet of retail space. I said yes.
With a turnover exceeding US$8 billion, the group operates five shopping centres in India, including North India’s first shopping centre in Lucknow city, Uttar Pradesh. Four other malls are located in South India – Kochi, Thiruvananthapuram, Thrissur and Bangalore.
LuLu Group operates in 23 countries in the Middle East, Asia, the United States and Europe, with over 60,000 employees. Its international business portfolio ranges from hypermarket and shopping centre development to manufacturing and trading of merchandise, hospitality facilities and real estate. We have retail outlets in the United Arab Emirates, India, Saudi Arabia, Bahrain, Kuwait, Oman, Egypt, Malaysia and Indonesia.
Philips told his MoneyControl: These would be in Calicut, Tiruru, Perintalmanna, Kottayam, Palakkad (all in Kerala), Noida, Varanasi, Phrayaguraj (Uttar Pradesh), Ahmedabad, Hyderabad, Bangalore and Chennai. ”
His five malls in Kerala are all planned as 500,000-square-foot projects, while Ahmedabad’s mall will be his largest at 2 million square feet. Chennai Shopping Center covers a million square meters. A mall in Gurugram (the largest satellite city adjacent to the state capital, New Delhi) is already under construction and is expected to be operational in about a year and a half.
With three shopping malls planned in Uttar Pradesh and one mall already operating in the capital Lucknow, the state has become an important part of Lulu’s plans. According to Phillips, Lulu will also soon be visiting Kanpur, Uttar Pradesh’s largest city.
“We are currently in the process of acquiring land in Phrayaguraj and Varanasi and after that, we can consider Kanpur. What format we are considering in these markets (hypermarkets or malls) depends on the market opportunities and possible It will be decided by the company’s board of directors after consideration of the gender and it is informed that it is still in the conception stage,” he explained.
“He has already invested INR 20 billion (US$ 25 million) in real estate in Lucknow, plans a food processing centre in the state and has already invested INR 5 billion (US$ 6.25 million). .”
Bengaluru often called the Silicon Valley of India, is another focus. The group already owns 800,000 square feet of property, 95% of which he has leased. “We are planning four more hypermarkets and mini-malls in Bangalore. It is at a stage,” he told MoneyControl.He further said that Uttar Pradesh is an important market for Lulu Group.
“We are currently in the process of acquiring land at Prayagraj and Varanasi, after which Kanpur may be considered. It will be decided by the company’s board of directors after consideration, which is still in the conception stage.” “We have already invested Rs 20 crore in real estate in Lucknow. We are also planning a food processing centre in the state and it is already budgeted at Rs 50 crore. A further Rs 200 crore expansion is planned for hypermarkets and shopping malls in Uttar Pradesh,” Philips added.
Regarding the mall in Noida, Lulu Group’s director said the retail facility is still in the planning stages and the location will be determined based on market opportunities. “We are currently researching the market. A full-scale shopping mall should be completed within three years, and a hypermarket within a year,” he said. In Gurugram, Lulu Group occupies space in the mall for hypermarkets. “It’s under construction. It should be up and running in about a year and a half,” he said.
Bangalore is another focus. “We are planning four more hypermarkets and mini-malls in Bangalore. The hypermarkets are already in the building phase and the next he will be in operation for two quarters, but other centres in the city are under discussion.” We are at an advanced stage,” said Philips. Apart from that, the group is also looking for land in Chennai.
Apart from the food processing sector currently under construction in Uttar Pradesh, Phillips said earlier this year Lulu Group signed a memorandum of understanding with the Kashmir government to establish a food processing sector in Jammu. “J&K is an opportunity to set up a food processing centre there and source the best fruit for Middle Eastern consumers,” he told.
edited and proofread by nikita sharma
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