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Lulu Group Chairman, Yusuff Ali with Andhra Pradesh CM Chandrababu Naidu (Pic: X handle)
A day after meeting with Andhra Pradesh Chief Minister N. Naidu, Lulu Group Chairman M.A. Yusuff Ali announced plans for major investments in the State.
In a message posted on the social media platform X on September 29, he revealed that the company intends to establish an international-standard shopping mall featuring an eight-screen IMAX multiplex in Visakhapatnam, as well as state-of-the-art hypermarkets in Vijayawada and Tirupati.
Additionally, modern food processing and logistics centres are also part of the proposal.
Yusuff Ali expressed optimism about the discussions he and the company’s Executive Director, Ashraf Ali, had with Chief Minister Naidu. He further highlighted the strong, 18-year friendship he shares with the Chief Minister.
Chandrababu Naidu also provided updates about their meeting on X, describing it as productive.
He noted that they discussed plans for the mall and multiplex in Visakhapatnam, as well as hypermarkets and multiplexes in Vijayawada and Tirupati, alongside investments in the food processing sector throughout the State.
The Chief Minister assured the Lulu Group of his government's support and expressed hope for a fruitful partnership aimed at developing Andhra Pradesh.
5 years of waiting
This announcement also marks a return to the State for Lulu Group, which in 2019 had announced plans to invest ₹2,200 crore in Andhra Pradesh to establish an international convention centre, a shopping mall, and a luxury hotel in Visakhapatnam.
These plans were shelved when the government led by Jagan Mohan Reddy cancelled the 13.8 acres of land allocated by the previous TDP government, citing political reasons.
Following this, the Lulu Group withdrew from the projects and halted further investments in the State.
Lulu's diversified presence
With an annual turnover of $8 billion, the Abu Dhabi-based Lulu Group operates across a diverse range of sectors, including hypermarkets, shopping mall development, manufacturing, trading, hospitality, and real estate.
The group currently has a presence in 25 countries and operates Lulu Malls in eight cities in India, including Kochi, Thiruvananthapuram, Bengaluru, and Lucknow.
The upcoming mall in Kottayam is set to open soon, with additional projects announced in Gujarat and Tamil Nadu.
