The Waterfront Market & Lulu Group Sign Agreement To Open New Lulu Hypermarket in Dubai
Region’s fastest growing hypermarket chain, Lulu Group chooses Waterfront Market to open hypermarket in January 2019
September 24th 2018: The Waterfront Market and Lulu Group have signed an agreement to open an anchor outlet in January 2019. The Lulu Hypermarket will be spread across 55,000 square feet of retail space within the Waterfront Market and provide customers and the Deira community with a wide range of competitive and quality home products.
The Waterfront Market, a wholly owned subsidiary of Ithra Dubai, is a world-class purpose-built facility spread over 120,000 square meters. The largest facility for fresh food markets in the region consists of dedicated sections for fish and seafood; fruit and vegetables; meat and poultry; and spice and dry goods markets in addition to an array of F&B and retail offerings. Located at the intersection of Al Khaleej Road and Abu Hail Street on the Deira Corniche overlooking the Deira Islands, the market provides the ideal location for Lulu Hypermarket to reach its loyal customers.
Commenting on the announcement, Issam Galadari, CEO of Ithra Dubai, said: “Our partnership with Lulu Group is a major new development which serves to position both brands as the ideal family shopping destination. Waterfront Market is keen to continue providing our growing number of shoppers with a range of choices that will complete their home shopping lists under one roof. The retail sector remains one of the most robust markets in the region and we are strategically positioned to offer product quality and variety at the best market value while improving our visitors’ shopping experience.”
The UAE’s consumer goods market consisting of fresh and packaged food, home appliances, and garments, among many others, witnessed 37% growth during Q4, 2017 and market analysts have noted that the trend will remain steady in the coming years. The value of retail sales in the Emirate of Dubai alone is projected to soar up to AED 160.7 billion by 2021 with an average growth of 5.6% from 2018 to 2021.
The robust growth in the retail sector is highly visible in the continuous expansion of major retailers in the region such as Lulu Group. The company is one of the region’s fastest growing retail chains with more than 150 stores spread across the GCC, Egypt, India, and Far East. Lulu Group has built a reputation for its wide variety of quality brands sourced throughout the world that meet the diverse retail needs of various communities in the UAE and the region. The retail chain has a strong consumer following and is expected to increase the Waterfront Market’s footfall significantly.
Yusuff Ali M.A., Chairman and Managing Director, Lulu Group International, noted: “Lulu Group has been strategically investing in key locations globally where it can best serve its diverse markets. Our partnership with the Waterfront Market serves our loyal customers at the heart of Deira, where we have established one of our earliest shopping centers. Our new hypermarket shares its mission with the Waterfront Market to provide discerning shoppers with quality products.”
The new hypermarket makes a wide variety of essential household products easily accessible to Waterfront Market consumers. This will prove to be a welcome addition to its distinctive fresh food offerings, making home shopping easier under one roof. The market has dedicated sections for fish and seafood, fruit and vegetables, meat and poultry, and dry goods.
The hypermarket’s shoppers will be effectively served by the comfort, convenience and cleanliness that the Waterfront Market provides. This includes ample underground and outdoor parking spaces, fully air-conditioned facilities, world-class hygiene standards and maintenance, as well as essential retail outlets including a pharmacy, money exchange, banks, and a host of cafes and restaurants situated by the promenade facing the sea.