Many Indian businessmen built their careers abroad and are now heavily investing in India. Many of them have a massive net worth and are among the richest Indians. One such person is MA Yusuff Ali, Middle East retail king, who owns USD 8.4 billion (revenue) LuLu Group International. The 68-year-old has a real-time net worth of Rs 73040 crore, as per Forbes. The billionaire is set to construct India's 'biggest' shopping mall in Ahmedabad.
The mall will be built with an estimated cost of Rs 4,000 crore. Its construction is set to begin in 2024. Ali told ANI that this is one of the biggest projects of his company. It is about 3,50,000 sq ft. 3,000 young boys and girls are working here, he said.
Currently, LuLu Group has malls in six Indian cities -- Kochi, Thiruvananthapuram, Bengaluru, Lucknow, Coimbatore, and Hyderabad being the latest. Hailing from a village in Kerala state in south India, Yusuff Ali left for Abu Dhabi in 1973 to join his uncle's small distribution business.
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His Lulu Group now operates over 250 hypermarkets and supermarkets and is immensely popular with discerning shoppers across the GCC, Egypt, India, Indonesia, and Malaysia. The group is headquartered in Abu Dhabi, UAE. It has been known as a trendsetter in the retail industry in the Middle East and North Africa region.
