LuLu's value concept store, LOT, opens three outlets in KSA
The Makkah store was inaugurated by Dr. Waleed Basuliman, general manager of investment and partnerships at the Royal Commission for Makkah City and Holy Sites, alongside LuLu Group Chairman Yusuff Ali M.A.
Nasser Huwaiden Thaiban Ali Alketbi, consul general of the UAE in Jeddah; Yaser Attar, director general of investment and deputy for planning and financial sustainability at Makkah Municipality; Abdulaziz Al-Sindi; Sheikh Ibrahim Al-Rifaei; and business figures from Makkah were also present.
Chairman Ali said: 'This expansion reflects our commitment to the Kingdom's Vision 2030 and our goal to offer high-quality, affordable products to all.'
He added that with LOT, their aim is to redefine value retailing by making everyday essentials accessible to everyone without compromising on quality.
'Four more LOT stores are in the pipeline in the Kingdom,' the LuLu chairman added.
Located on Abdullah Areef Street in Al-Rusayfah district, the new Makkah LOT store spans 43,000 square feet and is designed to deliver an engaging, budget-friendly shopping experience.
It features a wide selection of household essentials, kitchenware, and fashion for men, women, and children, with a strong emphasis on quality and affordability.
The store also offers ample parking space, enhancing its convenience for residents and visitors alike.
These value concept stores offer a wide range of products at unbeatable prices, with many items priced below SR22 ($5.87).
The Eastern Province outlet, located in Saihat within the LuLu Hypermarket complex on Al-Musib Ibn Rafi Street, offers 24,000 square feet of smart retail space tailored to budget-friendly shoppers.
Meanwhile, the Riyadh location in Al-Malaz features 18,772 square feet of retail space and comprehensive parking facilities.
All three stores opened with exclusive collections and promotional offers, reinforcing LOT's core mission of making good-quality products accessible at wallet-friendly prices, responding to growing consumer demand for affordable yet high-quality retail experiences.
With this strategic expansion, LuLu continues to strengthen its footprint in the Saudi market, energizing the local retail sector and reaffirming its commitment to delivering value-driven shopping across key cities in the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
30 minutes ago
- Arab News
Saudi regulator eases approval process for rated debt issues
RIYADH: Public debt issuers in Saudi Arabia can now expect faster regulatory reviews if their offerings carry a credit rating, as the Kingdom moves to boost issuance and expand its fixed-income investor base. The Capital Market Authority has introduced a fast-track mechanism for public debt offering applications that agencies licensed by the regulator have rated. The incentive will remain in effect through the end of 2026, according to a press release. By encouraging issuers to obtain credit ratings, the CMA aims to increase investor participation and improve risk assessment across the market. The move comes amid Saudi Arabia's ongoing efforts to develop a more diversified and resilient financial system under Vision 2030. Strengthening the domestic capital market, particularly fixed income, is a strategic priority for the Kingdom as it seeks to reduce dependence on oil revenues, channel more private capital into economic development, and empower the private sector as a driver of growth. 'Through this measure, the CMA aims to build a more mature and stable debt instruments market with a diversified investor base and strengthened confidence among all participants,' the statement said. 'A credit rating is not merely an indicator of the issuer's creditworthiness; rather, it serves as an effective tool enabling investors to make well-informed investment decisions,' it added. While Saudi Arabia's equity market has seen strong growth in recent years, the debt segment remains relatively underdeveloped compared to global peers. Enhancing transparency and risk differentiation through credit ratings is viewed as key to unlocking greater institutional and foreign investor participation, which in turn supports more competitive pricing and long-term market stability. The CMA has already implemented a series of structural reforms to mature the market, including expanding the qualified investor base, enabling foreign ownership of debt securities, and promoting the issuance of sukuk and conventional bonds. These reforms are designed to improve capital access for issuers while giving investors better tools to assess risk and return. The latest measure builds on these initiatives by directly linking faster regulatory review to the presence of a third-party credit opinion. The regulator expects the move to stimulate a higher volume of rated debt issuances, accelerate application processing, and strengthen market confidence, ultimately fostering a more dynamic and diversified capital market ecosystem.
Arab News
an hour ago
- Arab News
Saudi PIF named most valuable and fastest-growing sovereign wealth fund
RIYADH: Saudi Arabia's Public Investment Fund has been named the most valuable and fastest-growing sovereign wealth fund in the world, with a brand value of $1.2 billion, a new report showed. According to Brand Finance's 2025 Asset Management and Sovereign Wealth Fund 50 report, PIF also secured seventh place globally in brand value-to-assets under management ratio, making it the only SWF to enter the top 10 across both asset management and SWF categories. PIF's strong brand growth reflects its ranking as the fourth-largest sovereign wealth fund globally, as reported in Global SWF's July update. With assets under management exceeding $1 trillion, the fund now ranks just behind Norway's Government Pension Fund Global and two Chinese entities — the State Administration of Foreign Exchange and the China Investment Corporation — surpassing regional peers such as the Abu Dhabi Investment Authority and the Kuwait Investment Authority. The report from Brand Finance also highlighted the role of high-profile sports partnerships in elevating brand value. 'In 2024, PIF signed groundbreaking global partnerships accelerating the growth of sports with ATP and WTA tennis, Concacaf and Formula E, Extreme E and E1 under the E360 umbrella while its ownership of LIV Golf is helping to expand the game's audience around the world,' Brand Finance CEO David Haigh said. PIF's brand growth was underpinned by strong scores in brand awareness, purpose, and its commitment to long-term value creation. It has seen substantial expansion in its portfolio, driven by the maturation of key projects and robust performance from its portfolio companies. The Saudi wealth fund holds an A+ brand strength rating, with its Brand Strength Index rising to 62.9 out of 100 in 2025. Additionally, PIF's ownership of LIV Golf continues to expand the game's global audience and bolster its brand visibility. BlackRock retained its position as the world's most valuable asset management brand for the second consecutive year, with its brand value rising 17 percent to $8.3 billion, according to the Brand Finance report. The increase is attributed to a surge in AUM, strategic acquisitions in private markets, and sustained leadership in technology and artificial intelligence. In the asset management space, JP Morgan Asset Management ranked second globally with a brand value just under $7.2 billion, reflecting a 3 percent year-on-year increase. Vanguard held third place with a brand value of $6 billion, unchanged from 2024. While BlackRock trails JP Morgan in terms of brand strength — scoring 87 out of 100 to JP Morgan's 87.6 — both firms retained an AAA brand strength rating. Haigh noted the strategic importance of sports affiliations in brand development. 'Formula 1 and football are powerful and popular ways for asset managers and sovereign wealth funds to raise their international profiles in a way that is consistent with the brands' wealth and stature,' Haigh said. He cited JP Morgan's banking unit Chase's recent sponsorship of Arsenal FC's VIP Lounge as an example of how these investments can significantly boost brand recognition among targeted audiences. Among sovereign wealth funds, the Abu Dhabi Investment Authority was identified as the strongest brand in terms of BSI, with a score of 64.1, also earning an A+ rating. PIF remains the leader in overall brand value within the SWF category, reflecting the fund's expanding global influence and strategic visibility.
Saudi Gazette
an hour ago
- Saudi Gazette
Jotun Saudi commemorates 40 years of innovation and growth
Jotun, one of the world's leading manufacturers of paints and coatings, is celebrating 40 years of successful operations in Saudi Arabia, marking four decades of contribution to the Kingdom's most iconic landmarks and infrastructure development. Since establishing its first Saudi operations in 1985, Jotun has become deeply embedded in the nation's architectural heritage, protecting and beautifying structures that define the Saudi skyline. Since the inception of the Kingdom's modern infrastructure development through to today's ambitious megaprojects, Jotun's protective and decorative coatings have preserved majority of iconic landmarks that symbolize Saudi Arabia's progress. 'Our success over the past 40 years is built on a strong team, deep-rooted values, and a stable long-term strategy that has enabled us to contribute to national infrastructure and supporting sustainable development,' said Morten Fon, President and CEO of Jotun Paints. 'As we look to the future, we remain committed to offering innovative, high-performance solutions that meet the needs of a transforming nation.' Over the past four decades, the company has delivered approximately two billion liters of paint, coating more than 300 million square meters across Saudi Arabia. The company's presence has grown to include 500 Multicolour Centres throughout the Kingdom, creating a network that provides a curated, personalized experience for professional and homeowners alike. Looking to the future, Jotun Saudi Arabia has announced plans to double its production capacity through significant investments in Jotun's manufacturing facilities in Yanbu. The expansion will incorporate advanced technologies that enhance both production efficiency and sustainability. "As Saudi Arabia continues its remarkable transformation, we are expanding our capabilities to meet growing demand,' said Martin Chew, Vice President Middle East and Africa. "This investment reflects our commitment to local manufacturing excellence and our confidence in the Kingdom's continued development." 'This 40-year milestone is not only a celebration of our past, but a commitment to the future,' Fon added. 'Our legacy is defined by our values, long-standing partnerships, premium products, and great people. We will continue to deliver reliable paint solutions for protection, performance, and beauty to the Kingdom for generations to come.' To mark this important milestone, Jotun Saudi has planned a year-long series of celebratory events to honor its employees, partners, and legacy—reinforcing its deep-rooted connection with the Kingdom and its people.
