Abu Dhabi-based LuLu International Group has formed a joint venture with the Federal Land Development Authority (FELDA) to enter Malaysia.

Lulu is to invest $200 million in a JV to open five hypermarkets across Malaysia over the next few years.

Lulu Group has around 110 hypermarkets in the Middle East and one in Kerala, India.

“They will also help market more Malaysian products at their hypermarkets, including those produced by our small-and medium-sized industries and FELDA,” said Malaysia’s deputy prime minister Tan Sri Muhyiddin Yassin.

“It is, indeed, a good opportunity for us as Lulu International is the biggest operator of hypermarkets in the region with an annual turnover of more than $5 billion.”

The company also plans to enter new markets including Iraq, Indonesia, Algeria, Morocco and Libya.