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Tuesday, 28 July 2020

LuLu opens EGP 180 mn hypermarket in Sheraton

India’s LuLu Group has opened its second EGP 180 mn hypermarket branch in the District Mall in Cairo’s Sheraton neighborhood, Chairman Youssef Abdel Qadir said at a presser, according to Al Mal. The group signed a USD 500 mn investment pact with the government last year to open four new retail outlets. Abdel Qadir said yesterday that the group plans to invest USD 500 mn over the next three years to open 11 hypermarkets, four mini markets and an advanced logistics center. It was originally scheduled to open two malls in the first half of 2020 at a cost of USD 400 mn.

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