logo
Lulu brings world-class shopping to holy city of Madinah

Lulu brings world-class shopping to holy city of Madinah

Arab News13-02-2025
Lulu Retail, a leading hypermarket chain in the Middle East, has expanded its presence in Saudi Arabia with the opening of its latest express store in Madinah.
This expansion aligns with Lulu's commitment to providing world-class shopping experiences to residents and visitors while supporting the Kingdom's Vision 2030 initiative for economic growth and job creation.
Mazen bin Ibrahim Rajab, chairman of the Madinah Chamber of Commerce, inaugurated the new Lulu express store in the presence of Fahad Ahmed Khan Suri, consul general of India in Jeddah, Yusuffali M.A., chairman of Lulu Group, along with other dignitaries.
The new Lulu store, developed in partnership with Al Manakha Urban Project Development Company, spans a retail space of 23,000 square feet.
The store is designed to offer a modern shopping experience, catering to the diverse needs of customers with a well-curated selection of daily need essentials, fresh food, and departmental offerings similar to Lulu's Jabal Omar store in Makkah.
Officials from Jabal Omar Development Company and Al Manakha Urban Project Development Company expressed their confidence in Lulu store's role in enhancing the success of these prestigious shopping mall projects.
As a leading retail entity in the region, Lulu continues to redefine the shopping experience by bringing quality, variety, and affordability under one roof.
On this occasion, Yusuffali expressed his profound joy in expanding Lulu's footprint in the holy cities.
'To contribute to the development of amenities in Makkah and Madinah has been a long-cherished dream of mine. I extend my heartfelt gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Crown Prince Mohammed bin Salman, and the Saudi Arabian government for their unwavering support. The Lulu remains committed to delivering a world-class retail experience while generating employment opportunities for Saudi citizens,' he said.
Lulu is planning significant expansion across Saudi Arabia, with three additional major projects already in the pipeline for Madinah, he added.
Suri said that the opening of the new Lulu store will mark a pivotal role in advancing the regional development of Saudi Arabia.
He also praised Lulu's efforts in extending its services to pilgrims, calling them highly commendable.
The store will feature a well-designed layout inspired by the city's cultural and architectural essence.
Customers will enjoy a spacious and easily navigable shopping environment, ensuring convenience and comfort.
The store includes a fully stocked express store offering fresh produce, grocery essentials, and international products; a special focus on Saudi-grown products, including premium-quality Madinah dates; dedicated fresh food sections providing high-quality fruits, vegetables, meat, and seafood; select departmental items, reflecting the range available at Lulu's Jabal Omar store in Makkah.
The store will be open daily from 6 a.m. to midnight, providing extended shopping hours to accommodate the needs of both residents and visitors.
Also present on the occasion were Shehim Mohammed, director of Lulu Saudi; Rafeeq Yarathingal, business development director of Lulu; Noushad M.A., regional director of Lulu Jeddah; and other guests.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

World Defense Show 2026 sells 90% of exhibitor space
World Defense Show 2026 sells 90% of exhibitor space

Arab News

timean hour ago

  • Arab News

World Defense Show 2026 sells 90% of exhibitor space

RIYADH: The World Defense Show 2026 in Riyadh from Feb. 8 to 12 has sold 90 percent of its exhibition space, according to the organizers. Andrew Pearcey, CEO of the WDS, said: 'The overwhelming demand for exhibition space is a testament to the show's growing reputation as a must-attend event for those shaping the next era of defense and global security.' He said the presence of WDS officials at the recent International Defence Industry Fair provided 'an excellent opportunity to connect with key industry players and highlight the remarkable progress we've made in preparing for WDS 2026.' Pearcey was speaking at IDEF 2025 last week in Istanbul where the team met with key Turkish defense stakeholders. Expanded from its first and second editions, the WDS will feature several new sections, with an additional hall increasing floor space to 273,000 sq. meters, more than 58 percent larger than the first edition in 2022. Held under the theme 'The Future of Defense Integration,' the WDS will showcase the latest advancements across all five defense domains — air, land, sea, space, and security. The show is expected to feature exhibitor participation from 80 countries, including new participants Japan, Portugal, Uzbekistan and Finland. Turkiye is the third largest participating country, with Turkish exhibitors currently occupying 4,400 sq. meters of exhibition space. According to the organizers, Turkish participation is expected to grow exponentially. New programs in the upcoming edition will include a defense and security industry lab, and an exhibition of future technologies. A Saudi Arabia supply-chain zone will allow local small- and medium-sized enterprises to network with key global players. Several panel discussions will be held at the show including on technology, manufacturing and trade. Organized by Saudi Arabia's General Authority for Military Industries, the event is a key part of the Kingdom's ambition to localize 50 percent of its defense spending by 2030. Founded by the General Authority for Military Industries in Saudi Arabia, the first edition was held in 2022 on the outskirts of Riyadh. It attracted 600 exhibitors from 42 countries, 82 military and defense delegations, and 65,000 visitors from 85 countries.

Bank Albilad plans to buy back 10M shares for ESIP
Bank Albilad plans to buy back 10M shares for ESIP

Argaam

time4 hours ago

  • Argaam

Bank Albilad plans to buy back 10M shares for ESIP

Bank Albilad 's board of directors recommended, on June 23, the repurchase of up to 10 million of the bank's ordinary shares to be held as treasury shares and allocated to the employee stock incentive program (ESIP). In a statement to Tadawul today, July 28, Bank Albilad said the share repurchase will be funded through its own resources, noting that treasury shares currently account for 0.61% of the total shares subject to the buyback. The bank added that the repurchased shares will not carry voting rights at general shareholder meetings. The proposed buyback is subject to approval by the upcoming extraordinary general meeting (EGM), the date of which will be announced later, in compliance with the implementing regulations of the Companies Law for listed joint stock companies. The bank is required to meet all required solvency conditions. A report from the bank's external auditor will also be submitted in accordance with these regulations. According to data available with Argaam, the 10 million shares allocated for the ESIP represent approximately 0.67% of the bank's total outstanding shares, which stand at 1.5 billion.

PIF ranks as world's most valuable and fastest-growing sovereign wealth brand in 2025 — Brand Finance
PIF ranks as world's most valuable and fastest-growing sovereign wealth brand in 2025 — Brand Finance

Saudi Gazette

time4 hours ago

  • Saudi Gazette

PIF ranks as world's most valuable and fastest-growing sovereign wealth brand in 2025 — Brand Finance

Saudi Gazette report RIYADH — The Public Investment Fund (PIF) has been ranked as the world's most valuable and fastest-growing sovereign wealth fund brand for 2025, according to leading brand valuation consultancy Brand Finance. It marks the second consecutive year the Saudi sovereign wealth fund tops the global list. PIF's brand was valued at $1.2 billion this year, an 11% increase compared to 2024. The fund received an A+ brand strength rating, placing it second globally with a score of 62.9, and seventh in terms of assets under management (AUM) relative to brand value — the only sovereign fund to rank in the top ten in that category. According to Brand Finance's annual report on sovereign wealth funds and asset managers, PIF achieved the fastest brand growth rate in 2025. The report credits this momentum to PIF's expanding asset base, positive performance of Saudi portfolio companies, and the maturation of key projects. The fund's communications efforts and commitment to creating long-term impact also contributed to its brand strength. The Brand Finance ranking, launched in 2024, aims to help organizations understand the value of their brand and how it contributes to overall business performance. It evaluates brand strength based on stakeholder perceptions, financial outcomes, and non-financial benefits such as attracting investment, talent, or media attention. David Haigh, CEO of Brand Finance, said PIF exemplifies the branding power of high-impact investments, particularly in international sports. 'PIF stands out through major initiatives such as its transformation of Newcastle United into a competitive football club, as well as sponsorships in golf, tennis, and electric motor racing,' Haigh said. PIF continues to focus on achieving its strategic goals of generating sustainable returns and driving economic transformation in Saudi Arabia. It is also among the most influential global investors in shaping future economic sectors. In addition to its brand recognition, PIF ranked first globally in governance, sustainability, and resilience (GSR) performance and commitment, sharing the top spot with a 100% score among 200 sovereign investors in a 2025 report by Global SWF. The fund holds strong credit ratings, with Moody's assigning it an 'Aa3' with a stable outlook, and Fitch giving it an 'A+' rating, also with a stable outlook.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store