Dubai-based Lulu Group run by Kerala-born billionaire Yusuf Ali is set to open its sixth mall in India this week. The Group invested Rs 300 crore to revamp an already constructed mall to open up its space in Hyderabad. On the other hand, it invested vast sums of Rs 1,600 crore in Kochi and Rs 2,000 crore in Lucknow to set up two of India's most massive malls from scratch. The group now aims to launch large shopping malls in two major Indian cities.
The biggest investment in a single mall so far will be made in the Ahmedabad mall by the Lulu Group with a reported investment of Rs 3,000 crore. The mall will have 300 brands and a 15-screen multiplex with a 3000 pax food court. It will also house the biggest amusement centre in the country. The group's first shopping mall in Chennai will come up in 2024 as part of its MoU with Tamil Nadu government worth an investment of Rs 3,500 crore.
The Lulu Mall Hyderabad will be one of the largest shopping centres in the city spread over an area of 5 lakh square feet. It is located in Kukatpally, renovated from the Manjeera Mall. It has a 5-screen multiplex. The group also has shopping malls in Coimbatore, Thiruvananthapuram and Bengaluru.
"We are going to construct one of the largest shopping malls in Ahmedabad and Chennai and we are opening our shopping mall in Hyderabad end of this month. Also we are going to different states for shopping malls and food processing," Ali had told ANI earlier in September.
