Lulu group to build $272bn Dubai mall in 30 months.
Lulu Group, a UAE-headquartered retailer with operations around the Middle East, recently laid the foundation for a US $272.2bn (AED1bn) mall in Dubai Silicon Oasis (DSO), due to be completed in time for Dubai Expo 2020, Construction Week Online reports.
Lulu Group is planning on building three malls in Umm Al Quwain, Sharjah and Dubai over the next three years at a total cost of about $545m (AED2bn).
Lulu’s mall development and management division aims to build and operate the three malls, scheduled for delivery next year, 2018 and 2019, respectively, according to The National.
Line Investments & Property general manager Marcello Larizza said that the group was also building three malls in India and another three in Saudi Arabia.