Abu Dhabi – Mubasher: The Endowment and Minors Trust Foundation (Awqaf Dubai) has signed a strategic memorandum of understanding (MoU) with Lulu Retail Company to establish new hypermarkets and supermarkets across Dubai.
The agreement was formalized by Ali Al Mutawa, Secretary General of Awqaf Dubai, and Salim M.A, Director of Global Operations at Lulu Retail, according to a press release.
Lulu will collaborate with Awqaf Dubai to develop a group of retail stores in endowment projects that serve both residents and visitors.
This partnership aims to enhance the retail experience while contributing to AWQAF’s broader social and economic objectives.
Meanwhile, the first hypermarket under this collaboration is set to launch in Khawaneej-2 by mid-year.
Yusuffali M.A, Chairman of Lulu Group, stated: "Lulu Group is committed to exploring all avenues of collaboration, ensuring a sustainable and world-class retail experience for Dubai’s residents and visitors."
In December 2024, Lulu Retail inaugurated two express stores in Makkah and Riyadh, bringing its business in Saudi Arabia to 59 stores.
