KUALA LUMPUR: Lulu Group, the owner of the largest hypermarket chain in the Middle East, plans to initially invest RM1.3 billion (US$300 million) in Malaysia's retail market over the next two years, said chairman and managing director Yusuffali M.A.

The investment involved the rolling out of 10 hypermarkets and will gradually expand it to all parts of Malaysia, he said in a statement to Bernama here today.

Yusuffali said the group is also in its final stages of starting its operations in the country with the first hypermarket, located at Jalan Munshi Abdullah here, in February next year.

Lulu Group, which currently operates 118 hypermarkets and shopping malls in the Middle East and India, is known for its world-class shopping experience, highest quality products, competitive prices and excellent customer service.

It is also one of the biggest importers of Malaysian agricultural products and non-food products to the Middle East.

Agreements have already been finalised with prominent retail developers such as Greenhill Resources Sdn Bhd (Setia City Mall), KLIA Properties Sdn Bhd (for their new project in Bangi) and PNB Commercial Sdn Bhd (Perling Mall in Johor Bahru).

He added that other hypermarkets will be in Kota Bharu (Kelantan), Shah Alam (Selangor), Ipoh (Perak). Melaka, Penang and Kuala Terengganu.

"Works of other hypermarkets have already started with some having completed 60 per cent and others 70 per cent," he said, adding that discussions are also progressing with FELDA for projects in other parts of Malaysia.

"Today the whole world knows about Malaysia's economic stability, investor-friendly approach, liberalised policies and world-class infrastructure and we are confident about our success here", he said.

He said Lulu's hypermarkets encompass both both supermarket and department store formats and the group intend to bring a whole new world of shopping to the residents of Malaysia.

"Globally, we employ more than 35,000 people from different nations and our projects here will provide 5,000 jobs to Malaysians," he said.

"To better equip Malaysians employed by us, we will train them in all our hypermarkets here and will also take them to our other outlets in the Middle East" Yusuffali said.

Meanwhile, during Prime Minister Datuk Seri Najib Razak's visit to UAE last year, the premier had personally visited Lulu Hypermarket in Abu Dhabi and had shown much appreciation for the store's quality, product range and especially the various Malaysian products being sold there. --Bernama