Amaravati: 

The Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) has been authorized to review the proposals and make a decision. The Andhra Pradesh government has issued an order allotting land to LuLu Group International to set up a shopping mall in Visakhapatnam.

The government has ordered the re-transfer of over 13.43 acres of Harbour Park lands under the Visakhapatnam Metro Region Development Authority (VMRDA) to APIIC. LuLu has proposed to build a children's amusement park, a food court, and an 8-screen IMAX multiplex on the land.

LuLu Group is a multinational conglomerate headquartered in Abu Dhabi and is known for its retail operations, supermarkets and malls. The company had signed an agreement with the then Andhra Pradesh government to set up a shopping mall between 2014 and 2019. Accordingly, the land for Harbour Park on Visakhapatnam Beach Road has been allotted.

The previous YSRCP-led government had cancelled the allotment for LuLu in 2023. Following this, the conglomerate publicly announced that it was withdrawing the investment proposals.

After the TDP-led coalition came to power in 2024, the company agreed to reinvest as the government approved LuLu's proposals at an investment promotion meeting held on March 13.

LuLu has sought exceptions, such as the land should be allotted on a lease basis for 99 years for the construction of a shopping mall, rent should be exempted for three years or till the date of opening of the shopping mall (whichever is earlier), and rent should be increased by 10 per cent in every 10 years

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