JAKARTA (Yosefardi) – Abu Dhabi-based Lulu Group International, the largest hypermarket in Asia and Middle East, through its LuLu Hypermarket division, opens its first retail outlet in East Jakarta, Indonesia, to seek benefit amid fast growing of retail business in Indonesia.
LuLu Hypermarket plans to open another 2 new outlets/stores in Jakarta within next 24 months. It is forging ahead with ambitious expansion plans that include the opening of 42 new Hypermarkets in the next two years. New markets are also being explored in Malaysia, Indonesia, Iraq, Algeria, Morocco and Libya.
These expansion plans come close on the heels of the Arab spring that has led these countries to liberalize the foreign investment law.