The group of companies Madinat Holding announced the signing of an agreement with the LuLu Retail group regarding the development and management of shopping centers in the United Arab Emirates and Egypt. Madinat Holding specializes in the construction and development of communities and new projects, including the establishment of shopping centers and various points, which will be managed by LuLu Retail.
Both parties to the contract agreed that they will strategically cooperate to develop new retail projects, implement innovative solutions for shopping, and develop advanced logistics infrastructure.
LuLu Retail, headquartered in Abu Dhabi, is one of the largest retail chains in the Middle East, holding a portfolio that includes shopping centers, manufacturing and trading commodities, hospitality business, and real estate. The company operates in 23 countries across the entire Middle East, Asia, the United States, and Europe.
LuLu Retail manages a wide network of retail stores in the Soviet countries of Arab states, including 240 stores, comprising 116 supermarkets, 102 hypermarkets, and 22 convenience stores.
LuLu Retail President Yusuf Ali expressed satisfaction with the productive cooperation with Madinat Holding in the context of the company’s growth strategy. He noted that the agreement opens up opportunities to offer unique shopping experiences, combining quality and innovation, tailored to the diverse modern demands of society in the UAE and Egypt.
Madinat Holding's Managing Director Bill Oregon stated that this strategic partnership with LuLu Retail will create shopping destinations, enhancing community interaction and fostering a sense of perspective for the future of the shopping sphere.
Chairman of the Board of Directors of Madinat Holding Jassim Mohamad Bu Atabah stated that this collaboration with LuLu Retail reaffirms their commitment to provide comprehensive community services, satisfying all the needs of their residents and visitors. The company imports high-quality products from 85 countries to avoid supply shortages, diversify sources of its products, and ensure their availability.
