Calamba, Laguna—Dubai-based LuLu Group International on Wednesday disclosed plans to start a $100-million expansion of retail centers and increase imports from the Philippines to $100 million in the immediate two years.
LuLu Group chairman Yusuff Ali M.A. said his company, while initially managing logistics from the Philippines, had great confidence to invest in the country.
“We’re bringing in a chain hypermarkets to the Philippines starting this 2018. We will spend an initial $100 million for this expansion,” he said at the inauguration of May Exports Philippines Inc., the company’s logistics enterprise in the Philippines.
Lulu has over 150 hypermarket network across Gulf countries and Egypt with plans to expand markets in Asia other than the Philippines and Indonesia.