Lulu Group may invest Rs 1500 crore in a new mall in Greater Noida

21 Oct 2022 , 08:06 AM

According to the Greater Noida Authority, the Lulu Group, which has its headquarters in Abu Dhabi, may invest Rs1500 crore to build a mall in Greater Noida in the NCR.

The company’s representatives met with the authority and asked them to find suitable land.

The Lulu Group, which already operates a mall in Lucknow, has committed Rs2500 crore to three new projects in Uttar Pradesh: one Lulu Mall in Varanasi, one in Prayagraj, and one in Greater Noida.

The Lulu Group has also made plans to build Ahmedabad, Gujarat, the largest retail mall in India.

This will be an NRI investment, and the Rs3,000 crore shopping mall would create 6,000 direct jobs and more than treble the state’s indirect employment.

The last stages of the land acquisition negotiations for this project will see the laying of the massive shopping mall’s foundation stone early in 2023.

The shopping centre will house more than 300 domestic and foreign brands, a multi-cuisine food court with seating for 3000 people, 15 multiplex screens with Imax, India’s largest children’s entertainment complex, and numerous other attractions.

Currently, the Lulu Group has 240 hypermarkets and shopping centres throughout 10 nations. In Kerala, Karnataka, and Uttar Pradesh, there are 5 malls.

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