Indian-born retail king of Abu Dhabi, MA Yusuff Ali controls the $5.8 billion (revenues) LuLu Group, which has 114 hypermarkets, supermarkets and grocery outlets, mostly in the Middle East. It has lately expanded into Malaysia and Indonesia where its ‘halal’ products are popular,” says his profile.
“Yusuff Ali, who hails from a village in the southern Indian state of Kerala, is pumping investments back home. He already has a LuLu mall and two Marriott hotels in the southern Indian city of Cochin where he maintains a 60,000-square- foot waterfront home. He’s now building a technology park called the Lulu Tech Park and a Grand Hyatt hotel,” it adds.
“Recently he announced that he will invest $435 million in the southern state of Telangana which will include a mall, hypermarket, food and meat processing unit and a convention centre. New toys include an Embraer Legacy 500 jet.