The flow of foreign investments in the retail sector has emerged as one of the strongest pillars of the national economy, a senior government official said.
The Minister of Industry and Commerce Dr Hassan Abdulla Fakhro, who on Wednesday opened the third outlet of Lulu Hypermarket in A’ali area located in Ramli Mall, lauded the role played by this retail major in stimulating competition and competitiveness in this vital segment of the economy.
The fourth Lulu Hypermarket is set to open in Hidd area later, making it the fastest growing retail major in the Kingdom of Bahrain since the launch of the first outlet in Dana Mall three years ago.
Highlighting the importance of the initiatives taken by the Government to diverse import sources and provides facilities to consumers by providing them a wider choice for the products selection.
“The investments in projects like Lulu Hypermarkets will contribute significantly to reduce commodity prices as well as stimulate domestic market,” the Minister added.
Dr Fakhro added that Lulu Hypermarket contributed through their offers and plans being adopted to gain consumer confidence over the past three years, stressing to continue cooperate with MOIC and Lulu Hypermarket Group to serve primarily local consumers.
Lulu Hypermarket Group is the largest in the Kingdom and the third commercial stores. It is 86th in the region with a total area 900,000 square feet and includes many displays that meet families need under one roof.
Ramli Mall in A’ali is part of the Lulu Group and the 200,000 square feet anchor store Lulu Hypermarket opened in the Mall on January 5th, 2011. With over 800,000 square feet of premium retail space, Ramli Mall packs everything that today’s discerning shopper will need from a family shopping destination. What’s more, the whole mall has been designed to offer easy navigation and convenience with a dedicated 1500-vehicle car park.
“Over 70 major brands have joined us already at Ramli Mall and we are delighted with the enthusiasm of shoppers who have been checking the mall’s development,” said Yusuffali M.A. Managing Director of the Lulu Group.
“Ramli Mall will not only add to the economic development of the retail sector in the Kingdom but open up a new geographic area Ramli Mall taps an area which has not so far been explored and which is conveniently located in the tourist corridor off the King Fahad Causeway and also a busy intersection of residential and school-university zones in Bahrain.”
“In line with the Kingdom’s Vision 2030, our Group is committed to play a crucial role in the progress and development of this country. The rapid growth of the Lulu Hypermarket chain in the Kingdom is due to the stability and economic progress in the Kingdom, the far-sighted ambitions of the leadership and the policies that the government has put in place to encourage business activity,” he added.
Besides fashion and games and the food court, Ramli Mall will also have everyday conveniences such as laundry service, exchange houses, opticians and a furniture store. The Ramli Mall offers world class leisure and entertainment opportunities that will fulfill a new niche in Bahrain’s expanding retail sector.