NEW MALL EXPANSION PLANS NATIONAL
HYDERABAD, TELANGANA, INDIA
By IFAB MEDIA - NEWS BUREAU - September 26, 2023 | 30 3 minutes read
Billionaire Yusuf Ali's Lulu Group is poised to unveil its sixth Indian mall this week, as it inaugurates Lulu Mall Hyderabad.
The Lulu Group, headed by Kerala-born billionaire Yusuf Ali and based in Dubai, is poised to unveil its sixth mall in India this week. To expand its presence in India, the group has invested significantly in various mall projects, with each location receiving substantial funding.
In Hyderabad, the Lulu Group has invested Rs 300 crore to renovate an existing mall, transforming it into one of the city's expansive shopping destinations. In contrast, they have committed substantial investments of Rs 1,600 crore in Kochi and Rs 2,000 crore in Lucknow to create two of India's largest malls from the ground up. Now, the group has set its sights on launching expansive shopping centers in two more major Indian cities.
The most substantial investment in a single mall project to date will be made in Ahmedabad by the Lulu Group, with a reported Rs 3,000 crore investment. This upcoming mall is slated to house 300 different brands, a 15-screen multiplex, and an extensive food court catering to 3,000 patrons. Furthermore, it will feature the largest amusement center of its kind in the country. In 2024, the group's inaugural shopping mall in Chennai will open its doors, as part of an MoU with the Tamil Nadu government, entailing a substantial investment of Rs 3,500 crore.
The Lulu Mall in Hyderabad is poised to become one of the city's most prominent shopping destinations, encompassing a vast 5 lakh square feet area. Situated in Kukatpally, it is a renovation of the former Manjeera Mall and boasts a 5-screen multiplex. Additionally, the Lulu Group already operates shopping malls in Coimbatore, Thiruvananthapuram, and Bengaluru.
Yusuf Ali, the group's founder, expressed their ambitious expansion plans, stating, "We are going to construct one of the largest shopping malls in Ahmedabad and Chennai, and we are opening our shopping mall in Hyderabad at the end of this month. Also, we are expanding to different states for shopping malls and food processing."