Dubai – Mubasher: Dubai Wholesale City (DWSC) has a signed a deal with UAE retail giant Lulu GroupInternational for a new logistics hub.
The deal, worth AED 300 million ($81 million), will see the hub materialise within 30 months.
Sprawling over an area of 1.3 million square feet, the new logistics hub will provide distribution services for Lulu Group’s large network of malls and hypermarkets across Dubai, Sharjah, and the Northern Emirates.
Commenting on the signing, DWSC CEO Abdulla Belhoul welcomed the UAE-based Lulu Group to Dubai Wholesale City, highlighting that the new facility will “benefit from the DWSC’s world-class infrastructure, governmental support, and full suite of services that can enhance efficiency across all stages of operations.”
With an annual turnover of over $6.9 billion and north of 40,000 in staff, the LuLu Group’s decision comes at a time when the UAE’s retail sector is forecast to grow at a compound annual growth rate (CAGR) of 4.9% to $71 billion by 2021.
The AED 300 million agreement was signed by DWSC CEO Abdulla Belhoul and Lulu Group chairman Yousuf Ali.
