An Abu Dhabi-based retail giant is planning to strengthen its presence in the southeast Asian region by opening a supermarket in the Philippines.
Currently, LuLu Group operates in Malaysia and Indonesia. Other stores are located in the United Arab Emirates, Bahrain, Kuwait, Oman, Saudi Arabia, Egypt, and India.
Aside from the supermarket, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza revealed that the firm will buy up to USD20 million (Php1.06 billion; Dh73.46 million) worth of goods from the Philippines by 2019, USD10 million of which will be purchased this year.
Purchases made will be exported to the Middle East and other countries where its retail chain operates.
LuLu Group and its local subsidiary May Exports Philippines recently opened its Warehouse No. 1 at the Calamba Premiere International Park.
The warehouse will process and handle products, such as dry foods, bananas, seafood, fruits and vegetables, dry fish, textiles, electronics, households, furniture and other value-added food and non-food products, as well as other general merchandise before exporting them to the Middle East.
LuLu Group operates in 21 countries with investments in hypermarkets, shopping malls, imports and exports, trading, shipping, information technology, travel and tourism, and education.