Lulu Opens New Mega Hypermarket in Saudi Arabia
Lulu Group, headquartered in Abu Dhabi, has launched its latest hypermarket in Saudi Arabia, further solidifying its presence in the Kingdom, which now accounts for 20% of the company’s total revenue.
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New Store Details
- Location: Jeddah’s Al-Baghdadiyah district, along Al Andalus Road
- Size: 109,000 square feet
With this opening, Lulu now operates 68 outlets across Saudi Arabia, including one in Aramco Neom. The total workforce for these operations exceeds 12,000 employees. Notably, the largest Lulu hypermarket is located in Riyadh, spanning 200,000 square feet.
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Commitment to Saudi Arabia
Yusuffali M.A, Chairman of Lulu Group, stated, “We remain dedicated to being a catalyst in Saudi Arabia’s dynamic retail transformation.” He emphasized that this expansion aligns with the Kingdom’s Vision 2030, aiming to create jobs, enhance retail infrastructure, and provide world-class shopping experiences to the community.
Revenue Insights
Lulu’s revenues from Saudi Arabia currently stand at SR5.5 billion, making it the largest contributor to the company’s revenue after the UAE, which contributes Dh10 billion (36% of total revenues).
Stock Performance
Lulu’s share price on the Abu Dhabi Securities Exchange (ADX) is currently at Dh1.27, reflecting a 1.6% increase over the past 30 days.
This new hypermarket marks another step in Lulu’s strategy to strengthen its foothold in a key market and support the ongoing retail transformation in Saudi Arabia.
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