Lulu Group, led by Youssef Ali Muslem, expects a 15% growth in the retail sector in the UAE this year, in line with the country's economic and population growth, which contributes to increasing job opportunities. Muslem told 'The National' that the UAE's economic growth, expected to exceed 5% this year, and comprehensive economic partnerships and strong economic relations with various countries around the world, contribute to enhancing the retail sector by facilitating the entry of goods without restrictions and promoting competition. He added that the vision of the wise leadership is the main reason for achieving this sustainable economic growth. Regarding the group's performance this year, Muslem expects the group to record a 15% growth in revenues and 20% in profits compared to last year. In relation to the holy month of Ramadan, Muslem confirmed that there is no shortage of food and consumer goods in the UAE, and there will be no increase in the prices of any commodity, in addition to special offers during Ramadan. He added: 'Our revenues during this Ramadan increased by 9% compared to last year.' He also emphasized the cooperation with the Ministry of Economy in providing prices on a weekly basis to the ministry, as it is necessary for all traders to refrain from raising prices during Ramadan. In terms of e-commerce, Muslem expects a significant growth of up to 40% this year, after it recorded a growth of 22-25% last year, as many people prefer online shopping, especially with Lulu's presence in every place and partnerships with delivery platforms. In terms of expansion, he said: 'We are continuing to expand within the UAE, as we come to the people wherever they live, especially with the urban expansion that is taking place in Abu Dhabi.' He added: 'We will continue to expand regionally, especially in Gulf countries such as Kuwait, Saudi Arabia, Bahrain, Qatar, and Oman, and we will also target expansion in Egypt, and plan to expand in new markets within the next three years, including Morocco, Jordan, and Iraq.' Lulu Group has 111 stores in the UAE and 253 stores in the Gulf region, and 23 new stores will be opened in the UAE and 46 in the Gulf region next year. In relation to the 'Nafis' program, he pointed out the recruitment of national cadres, who work in various sections, and we provide them with diverse training programs.
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