The group will develop a shopping mall project in the city of Yanbu.
The agreement will see Lulu and Royal Commission partner on delivering and operating a commercial centre under the Lulu brand. The project will occupy an area of 40,814sq m and cost around $80M to develop. The agreement was signed by Adnan Bin Ayesh Alwani – CEO, Royal Commission, Yanbu and Chairman of Lulu Group Yusuff Ali MA.
Alwani has commented on the partnership, saying: “Lulu Group is a leading entity within the global retail industry and it will be an important component for this prestigious shopping mall project. We are delighted to welcome Lulu and are confident that the new hypermarket alongside other internationally-acclaimed retail brands will be a focal destination which will attract more visitors to this city.”
Anchoring the project will be a Lulu Hypermarket as well as other prominent brands and an AMC cinema.
