Lulu Group to build mall in Andhra Pradesh, part of 2,000 crore project

By

Isabelle Crossley

Published
Feb 27, 2018

The UAE based business Lulu Group International has begun a 2,000 crore (approximately 300.6 million US dollar) project in Andhra Pradesh that will see the group construct a huge mall among others.

On Saturday February 24, Lulu Group’s Vice President M. Venkaiah Naidu laid the foundation stone for the Andhra Pradesh retail development during the CII Partnership Summit’s inaugural session. Also present at the event were the Andhra Pradesh Chief Minister N. Chandrababu Naidu, the Central Ministers Suresh Prabhu and Ashok Gajapathi Raju, and the Chairman of Lulu Group, M. A. Yusuff Ali.

The construction project is located in RK Beach, Visakhapatnam, the port city and industrial centre of the state of Andhra Pradesh. The project will include a huge mall as well as a conference centre and a hotel and is expected to create 10,000 jobs in the area (5,000 direct and 5,000 indirect). At the inauguration, Yusuff Ali stated that the project will be completed within three years and Chief Minister Naidu urged Lulu Group to complete the project within 30 months.

The Chief Minister’s Office have released a statement that estimates the project will total an investment of 2,000 crore rupees. This will mark a huge development for Visakhapatnam and the mall will bring in an array of international fashion brands not yet available in the area. As retail development continues in smaller cities, this Tier 2 city will no doubt attract a new wave of brands, especially as the current trend for Indian fashion brands is to seek out Tier 2 and 3 locations as fashion consciousness there is rapidly rising.