Lulu Is Double Strong After Jagan’s Setback!

Lulu Group International, known worldwide for its hypermarkets, malls, and multiplexes, has recently agreed to invest in Andhra Pradesh. The company has already signed an agreement with the state government to establish a mall and convention center in Visakhapatnam, with an investment of over ₹1,500 crore. In this context, the company’s representatives visited the newly established capital of Andhra Pradesh, Amaravati, on Friday. The CRDA officials extended their cooperation and showed the team various areas of Amaravati up close, which has piqued much interest.

While Lulu Group International has already committed to building a mall and convention center in Visakhapatnam, the company has now shown interest in making investments in Amaravati as well. It is reported that the company’s chairman, Yusuf Ali, discussed Amaravati with Andhra Pradesh CM N. Chandrababu Naidu while finalizing investments for Visakhapatnam. Naidu reportedly told Ali that Amaravati is being developed as a future city, which sparked Ali’s interest in investing there as well. Following this, the representatives from Lulu Group visited Amaravati to closely observe the land and infrastructure.

During their visit, the Lulu team gained insights from CRDA officials about the future development of the city—what kinds of structures will be built, the projected population growth, and the layout of new urban areas. After this, Lulu’s representatives indicated their intention to proceed with investment plans for Amaravati. Similar to Visakhapatnam, the company intends to set up a hypermall, convention center, multiplex, and IMAX theaters, with a projected investment of ₹1,500 crore for Amaravati as well.

The TDP government, during its previous tenure from 2014 to 2019, sanctioned a large parcel of land near RK Beach to the Lulu Group for the same project. But the YSRCP government cancelled it in 2019. After initially being sidelined under the leadership of Y. S. Jagan Mohan Reddy, the plans for Lulu Malls have now made a return, signaling renewed investment interest in Vizag and Amaravati. The agreement for this investment is expected to be finalized soon.