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Jokowi Inaugurates UAE`s First Hypermarket in Indonesia

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31 May 2016 19:30 WIB

President Joko "Jokowi" Widodo and Lulu Group CEO Yusuff Ali MA inspect local products sold during the opening of Lulu Hypermarket in Jakarta on May 31, 2016. TEMPO/Chitra

TEMPO.CO, Jakarta - President Joko Widodo (Jokowi) inaugurated Lulu Hypermarket, the first large retailer from United Arab Emirates (UAE) opened in Indonesia.

The inauguration of the new hypermarket was held at Taman Modern Plaza, East Jakarta. The opening of the first UAE-based hypermarket in Indonesia was attended by several ministers, government officials, and business association members.

The UAE-based retailer marks the business expansion retail in the far eastern region by opening its first hypermarket in Jakarta.

The owner of the retailer previously announced its plan to invest $500 million as a part of the business expansion plan.

Built on a 200,000-square-meter land, the new hypermarket is expected to absorb more than 5,000 workers within three years.

Lulu Hypermarket Cakung is the 126th store worldwide owned by Lulu Group. Lulu Group leader Yusuf Ali said that Lulu’s first phase investment in Indonesia was worth $300 million.

“We' plan to open 10 hypermarkets by the end of 2017 as well as a logistics center and warehouse facility in Indonesia,” he said.

ANTARA




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