Dubai: Abu Dhabi-based LuLu Group has expanded its presence in Saudi Arabia with the opening of its latest hypermarket in Jeddah’s Al-Baghdadiyah district, located along Al Andalus Road. The new store spans 109,000 square feet and further strengthens the retailer’s footprint in the Kingdom.
With this launch, the number of LuLu-operated outlets in Saudi Arabia has reached 68, including stores in strategic locations such as Aramco and Neom. The company now employs over 12,000 staff across its Saudi operations. (LuLu’s largest hypermarket in the Kingdom is in Riyadh, covering an expansive 200,000 square feet.)
Saudi Arabia continues to be a key market for LuLu Group, now contributing 20% of the company’s overall revenue. Speaking on the occasion, Yusuffali M.A, Chairman of LuLu Group, said:
“We remain dedicated to being a catalyst in Saudi Arabia’s dynamic retail transformation.
This expansion reflects our commitment to the Kingdom’s Vision 2030 by creating jobs, enhancing retail infrastructure, and delivering world-class shopping experiences to the community.”
With revenues from Saudi Arabia reaching SAR 5.5 billion, the Kingdom stands as LuLu’s second-largest market after the UAE, which contributes Dh10 billion, or 36%, to the group’s overall earnings.
On the financial front, LuLu’s share price on the Abu Dhabi Securities Exchange (ADX) is currently at Dh1.27, marking a 1.6% gain over the past 30 days.
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