The UAE "Lulu" plans to invest 8 billion pounds in Egypt within three years

The UAE "Lulu" plans to invest 8 billion pounds in Egypt within three years

Youssef Ali Masailem Abdel Qader, Chairman of the Emirates Lulu Group, said that the group set its investment plan in Egypt after cooperation with the Egyptian government, which resulted in the signing of 4 contracts for four commercial centers in different regions as a nucleus for cooperation between the government and the private sector.

Abdel Qader added that the Lulu Group will open 11 hypermarkets and 4 mini markets in Egypt during the next three years, in addition to that the group will invest in an advanced logistic center equipped with all facilities to serve the Egyptian retail outlets, as the group plans to invest 8 billion pounds.

The opening of the Lulu hypermarket branch, with investments of 180 million pounds
The head of the Lulu Group came during the opening of the Minister of Supply and Internal Trade, Dr. Ali Al-Meselhi, to the Lulu Hypermarket branch, with a total investment of 180 million pounds.

Al-Muselhi: Announcement of the company that will manage the commodity exchange this week
The Minister of Supply said that within the framework of the Ministry’s plan to develop the internal trade sector and increase its contribution to the gross national product, the company will be announced this week.

Moselhi pointed out that the political leadership directed the development of internal trade and work to raise its efficiency, noting that the ministry has an integrated development strategy that was presented to President Abdel Fattah El-Sisi in 2018.

Development of the infrastructure of the internal trade sector
He added that the ministry’s plan works to raise and develop the infrastructure of the internal trade sector by establishing multi-activity logistical areas that include storage areas, warehouses, malls, recreational areas or specialized logistical areas.

He pointed out that the development of the infrastructure will reflect positively on the citizen by providing high-quality goods and reducing waste by reducing circulation rings, which will reduce prices because the transportation cost ranges from 10 to 12% of the cost of the product and may reach 15%.

Masaelim: The Lulu Group has intensified its presence plan in Egypt strongly
The Chairman of the Lulu Group Board of Directors said that the group has intensified the plan to be in Egypt strongly, and the group has entered into commercial projects with prominent developers, and that the group has a large capacity to act as a channel to transport Egyptian exports worldwide, as it exported huge quantities to more than 300 An Egyptian product from the vegetable and fruit divisions and other refrigerated and frozen food products as well as non-food products for its other branches of the hypermarket spread among the countries of the Middle East. The group also plans to make a substantial increase in its exports from Egypt.

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