Business

Modon Holding PSC has entered a strategic partnership with LuLu Retail, the Middle East's prominent retail chain, to establish and operate hypermarkets and other retail outlets in the UAE and Egypt. This collaboration aims to enhance retail infrastructure, leveraging Modon Holding’s large-scale development expertise alongside LuLu’s extensive operational capacity.

The partnership, formalized through a memorandum of understanding (MoU), will focus on creating hypermarkets, supermarkets, and other retail spaces across Modon’s UAE and Egypt developments, eventually catering to millions of residents. Additionally, Modon and LuLu will identify high-potential locations, integrate advanced retail solutions, and develop logistics infrastructure to elevate the customer experience with innovative technologies.

A dedicated working committee, featuring representatives from both Modon Holding and LuLu Retail, will ensure seamless coordination and implementation of shared initiatives, facilitating the exchange of knowledge and effective project management.

His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, emphasized the collaboration's role in "delivering vibrant lifestyle communities" to meet residents' needs. Yusuff Ali, Chairman & Managing Director of LuLu Group, expressed enthusiasm, noting that the partnership aligns with LuLu’s vision of providing "unparalleled shopping experiences" in the UAE and Egypt. Bill O'Regan, Group CEO of Modon Holding, highlighted the partnership's focus on fostering community connections and pioneering modern retail environments.

LuLu Retail, based in Abu Dhabi, currently operates 240 stores in 23 countries, with a diversified portfolio that spans retail, shopping mall development, manufacturing, and food security partnerships in the UAE, Oman, and Bahrain. This latest collaboration marks a significant step in Modon Holding's strategic growth agenda.

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