Modon Holding partners with LuLu to develop retail facilities in the UAE and Egypt
Partnership marks an important step in Modon Holding’s broader growth agenda
Abu Dhabi: Modon Holding has partnered with LuLu Retail to develop and operate hypermarkets and other retail facilities in the UAE and Egypt.
Modon Holding will leverage its expertise in large-scale project development to ensure the provision of community retail in the form of hypermarkets, supermarkets, and other retail outlets to be operated by LuLu across Modon’s UAE and Egypt portfolio, which will in the future be home to millions of residents. Additionally, the two parties will jointly explore high-potential locations for retail development, implement smart retail solutions and advanced logistics infrastructure, and enhance customer experiences with innovative retail technologies.
This partnership, formalised in a memorandum of understanding (MoU), marks an important step in Modon Holding’s broader growth agenda, which includes actively targeting high-potential sectors for its projects’ expansion.
A working committee with Modon Holding and LuLu Retail representatives will ensure seamless collaboration, effective communication and identification of potential collaborative projects, activities and initiatives.
Headquartered in Abu Dhabi, LuLu is a leading retail chain in the Middle East. LuLu Retail operates a network of 240 stores, comprising 116 hypermarkets, 102 express stores, and 22 mini-markets across all GCC countries.
Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “Our collaboration with LuLu Retail highlights our commitment to delivering vibrant lifestyle communities that address the full spectrum of resident’s needs. A testament to our shared vision of growth, this MoU sets the stage for an exceptional retail experience within our developments, ensuring long-term value for Modon residents in the UAE and Egypt.”
Yusuff Ali, Chairman & Managing Director of LuLu Group, said: “We are excited to collaborate with Modon Holding as we expand our footprint. This MoU will allow us to offer unparalleled shopping experiences that blend quality and innovation while catering to the diverse requirements of the communities in the UAE and Egypt.”