UAE-based EMKE Group, one of the largest retail chains in the Middle East, unveiled its plan to pump Dh4.3 billion by the end of coming year for its retail stores across the Gulf region and one multi-purpose property located in Cochin, India.

The sources informed that the group has planned to establish 14 new hypermarkets and shopping malls in the Gulf region by the end of fiscal 2010, with a total investment of Dh3.2 billion.

The company has also envisaged an investment of Dh1.1 billion for its maiden project in India.

The four-decade old group functions retail chain stores that entail Lulu chain of supermarkets, department stores, hypermarkets and now shopping malls.

Headquartered in Abu Dhabi, the group will commence its 75th LuLu Hypermarket in Al Ain on Sunday, the biggest hypermarket in Al Ain.

The sources said that Lulu Hypermarkets is a retail division of EMKE Group, which has 74 stores across the Middle East and the company plans to set up its 100th store by the end of fiscal 2011.

Over the years, EMKE Group has ventured into varied businesses operating in the UAE, Oman, Qatar, Kuwait, Bahrain, Saudi Arabia, Yemen, India, Indonesia, Thailand, Hong Kong, China, Kenya, Tanzania and Benin.

Recently, the group has opened its 74th store in Doha and intends to establish seven more hypermarkets this year in the UAE, Saudi Arabia, Kuwait and Oman.

Despite the global economic downturn and reduction in the UAE population in recent months, the group witnessed significant growth during the first half of 2009.

As per reports in media, the group is having 32 per cent market share in the GCC region's organised grocery retail sector.