In the UAE, On 13 December 2022, the Uttar Pradesh government signed a memorandum of understanding (MoU) with hypermarket and retail giant, the Lulu Group to establish six shopping malls and a five-star hotel in the state.
Lulu Group will invest Rs 4,500 crore to set up shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj, according to the MoU. The commercial mall project in Noida’s Sector 108 would also include a five-star hotel. Lulu’s investment is expected to generate employment opportunities for around 20,000 persons.
The government of Uttar Pradesh has invited Dubai-based investors to participate in the hotel, infrastructure, food processing, agro-food security, and real estate sectors.