Visakhapatnam: In a landmark decision set to reshape Visakhapatnam’s commercial and entertainment sectors, the Andhra Pradesh state cabinet has granted final approval for the construction of a LuLu Mall in the city. This move highlights the state’s commitment to infrastructural development and economic growth, attracting major investments to the region.
LuLu Group’s Renewed Commitment
The LuLu Group, a global leader in shopping malls and hypermarkets, has reaffirmed its dedication to Andhra Pradesh by planning malls in Visakhapatnam, Amaravati, and Tirupati. This expansion aims to strengthen the state’s commercial infrastructure and boost economic activity.
A History of Challenges and Resilience
The LuLu Group’s association with Andhra Pradesh has seen ups and downs. Under Chief Minister Nara Chandrababu Naidu’s tenure (2014-2019), land was allocated for a LuLu Mall in Visakhapatnam. However, a shift in government led to the project’s relocation to Hyderabad. With the coalition government back in power, LuLu Group has revived its plans, demonstrating resilience and long-term commitment.
Strategic Discussions and Economic Impact
In September 2024, LuLu Group’s Managing Director, Yusuff Ali, met Chief Minister Naidu to discuss investments, including malls, multiplexes, hypermarkets, and food processing units in Visakhapatnam, Vijayawada, and Tirupati. This initiative is expected to generate significant employment and attract further investments.
Overcoming Past Hurdles
In 2019, the YSRCP government canceled LuLu Group’s land allotment over alleged irregularities, halting a Rs 2,200 crore project that included an international convention center, shopping mall, and five-star hotel. This decision disrupted plans to create over 7,000 jobs. However, LuLu Group’s renewed engagement signals restored investor confidence and optimism in Andhra Pradesh’s business climate.
With the latest approval, Visakhapatnam is set to witness a transformation in its retail landscape, reinforcing its position as a key commercial hub in Andhra Pradesh.
