LuLu Group may invest in Philippines
Supermarket chain LuLu Group, based in Abu Dhabi, has been looking at investment opportunities in the Philippines.
It is part of its plans to expand in Southeast Asia, says director general Charito Plaza of the Philippine Economic Zone Authority (PEZA), following a visit from LuLu Group executives. Initially it aims to establish a warehouse for food products it will export to the Middle East and other markets where it has a presence. It has 138 retail stores in 21 countries.
“They will be building in Malaysia and Thailand, then also in the Philippines,” says Plaza.
She says the group will be setting up warehouses and seeking to grow vegetables and other crops, as well as establish food-processing factories. The LuLu delegation visited an economic zone in Angeles, Pampanga, as a possible warehouse site.
Aside from this, the group is also thinking about building malls and supermarkets in the Philippines.
Plaza says Qatar is also looking at sourcing food products from the Philippines.