ABU DHABI- Malaysia’s Federal Land Development Authority (FELDA) have signed a Memorandum of Understanding with the Lulu Group for the establishment of Lulu Hypermarkets in Malaysia.
The memorandum was signed by the Director General of FELDA, Y. Bhg. Datuk Faizoull Ahmad and Mr. Yusuffali M.A., Managing Director, Lulu Group International witnessed by Prime Minister of Malaysia, Y.A.B. Dato’ Sri Mohd Najib Tun Abdul Razak and Chairman of FELDA Tan Sri Hj. Mohd Isa Abdul Samad.
FELDA confirmed its position as the land developer for the construction of the hypermarket building for the purpose of establishment of Lulu Hypermarket in Malaysia based in an agreement where Lulu will lease the hypermarket developed and constructed by FELDA on a long-term basis.
The proposed locations for the establishment of Lulu Hypermarket in Malaysia are Kota Bharu Kelantan, Bukit Katil Malacca, Ipoh Perak, Nilai Icon City Negeri Sembilan, Shah Alam Selangor and other locations are currently being surveyed. FELDA is also interested to develop other potentially strategic areas such as the Klang Valley, Johor Bharu and Penang.
The increase in bilateral trade between Malaysia and UAE in the F&B sector has been promising due to the initiatives of FELDA and Malaysia’s strong representation in the UAE. Malaysia also wishes to strengthen further relations in the retail sector to bring these countries together.
Lulu Hypermarkets are targeting to begin operations in Malaysia by early 2016 and this will add value to the Malaysian market by introducing the unique concept of Halal Hypermarkets. Lulu Hypermarkets are also planning to introduce new halal products as well as promoting FELDA SME products in Lulu Hypermarket chains in Malaysia and the Middle East. This initiative is expected to create job opportunities in both countries and thus fulfilling the public demands.
FELDA is currently promoting processed food (frozen and dry), fresh fruits and vegetable and aquaculture as well as crafts, health and wellness products. FELDA has been successful in transforming Malaysian entrepreneur community from the humble beginning of selling only for the local market, to now catering to the larger international market in partnership with the Lulu Group.
The Lulu hypermarket chain, which sells halal products at all of its 109 branches in countries like the UAE, Oman, Bahrain, Kuwait, Qatar, Saudi Arabia, Yemen, Egypt & India will see the additional new hypermarkets in Malaysia as key to their growth in Asia.