Latest news with #YusuffAliMA
Khaleej Times
18-07-2025
- Business
- Khaleej Times
LuLu launches three LOT stores in Saudi Arabia on a single day
In a significant stride toward retail expansion, LuLu Group has inaugurated three new LOT – The Value concept stores across Saudi Arabia in a single day, with grand openings held in the the holy city of Makkah, Saihat (Eastern Province), and Riyadh. The central launch event took place in Makkah and was graced by the presence of prominent dignitaries and government officials. The Makkah store was officially 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. The event also witnessed the attendance of key figures including Eng. Yaser Attar, director general of investment and deputy for planning and financial sustainability at Makkah Municipality. Prominent business personalities from Makkah such as Engineer Abdulaziz Al Sindi and Sheikh Ibrahim Al Rifaei also participated in the ceremony. "This expansion reflects our commitment to the Kingdom's Vision 2030 and our goal to offer high-quality, affordable products to all. With LOT, we aim 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," said Yusuff Ali M A. Located on Abdullah Areef Street in the Al Rusafyah District, the new LOT store in Makkah spans 43,000 sq ft and is designed to offer an engaging, budget-friendly shopping experience. It features a broad assortment of household essentials, kitchenware, and fashion for men, women, and children, emphasising both quality and affordability. Ample parking space is available, ensuring convenience for both residents and visitors. These value-focused concept stores offer an impressive range of products at unbeatable prices, with many items priced below 22 Riyals. The initiative is aimed at ensuring every customer has access to high-quality goods across key categories. The Eastern Province outlet, located in Saihat within the LuLu Hypermarket complex on Al Musib Ibn Rafi Street, spans 24,000 sq ft of smart retail space tailored for budget-conscious shoppers. Meanwhile, the Riyadh branch, located in Al Malaz, offers 18,772 sq ft of retail space and comprehensive parking facilities, positioning it as a flagship destination for value shopping in the capital. All three outlets opened with exclusive collections and attractive promotional offers, reinforcing LOT's core mission of providing good-quality products at wallet-friendly prices, catering to the rising demand for affordable yet premium retail experiences. With this strategic expansion, LuLu Group continues to solidify its footprint in the Saudi market, energising the local retail landscape and reaffirming its commitment to delivering value-driven shopping across the Kingdom's key cities.
Arab News
17-07-2025
- Business
- Arab News
Lulu launches 3 value concept stores in Saudi Arabia
Lulu Group inaugurated three new value concept — LOT — stores in Saudi Arabia in a single day — in Makkah, Saihat, Eastern Province, and Riyadh. The central launch event took place in Makkah and was attended by dignitaries and government officials. 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; Engineer Yaser Attar, director general of investment and deputy for planning and financial sustainability at Makkah Municipality; business figures from Makkah, Engineer Abdulaziz Al Sindi, and Sheikh Ibrahim Al Rifaei were also present. Yusuffali M.A. 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-Rusafyah 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. This initiative aims to ensure that everyone can access high-quality goods, including household essentials, kitchenware, and fashion for men, women, and children. 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 18772 square feet of retail space and comprehensive parking facilities, positioning it as a flagship destination for value shopping in the capital. 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.
Khaleej Times
26-04-2025
- Business
- Khaleej Times
UAE: Lulu Retail's AGM approves Dh309.8 million dividend
The UAE-based retailer Lulu Retail's Annual General Meeting (AGM) approved a Dh309.8 million dividend for the second half of 2024. The last entitlement date is May 1, 2025, and the payment date is May 23, 2025, it said. This was the first AGM of the company since it went public on the Abu Dhabi Securities Exchange in November 2024. Yusuff Ali MA, chairman of Lulu Retail, said this 'marks not just our first AGM, but a defining moment that reflects the strength of our foundations, the clarity of our vision, and the unity of our purpose.' 'We remain focused on strengthening our market position and look forward to the journey ahead with purpose and a shared vision for sustained growth,' said Saifee Rupawala, CEO of Lulu Retail. Lulu Retail's revenue reached $7.6 billion, reflecting a 4.7 per cent year-on-year increase, during its 2024 financial performance. Net profit stood at $216.2 million, representing a 12.6 per cent increase. Founded in 1974, Lulu Retail is the largest pan-GCC full-line retailer by selling space, sales and number of stores, operating more than 250 hypermarket, express and mini-market stores across the six GCC countries.
