In a heartwarming act of kindness, MA Yusuff Ali, the billionaire chairman of the LuLu Group, came to the rescue of a family from Paravur Vadakkekara, Kerala, who were on the verge of losing their home due to unpaid debt. Sandhya, a mother of two, faced foreclosure after defaulting on a loan, leaving the family desperate and uncertain about their future. The LuLu Group took swift action, offering to pay off the family’s debt of Rs 8.25 lakh to a private financial institution.
In an extraordinary gesture, LuLu group representatives visited the family’s home and handed over Rs 10 lakh to the family help them get back on their feet, according to a report published on Keralakaumudi.com. The news of the foreclosure of their house was earlier reported in the local media.
In 2019, Sandhya’s family, according to the report, secured a loan of Rs 4 lakh to complete the construction of their home. However, life took a harsh turn in 2022 when Sandhya’s husband abandoned the family, leaving her alone to manage the household and the loan repayment. Without a steady income, the repayments stopped, and the financial institution initiated foreclosure proceedings.
What added to the family’s distress was the manner in which the foreclosure unfolded. According to neighbors, the family was not present when the financial institutions, locking them out of the house, the report said. They were even denied access to collect their personal belongings, leaving them in a state of complete despair.
However, it was MA Yusuff Ali’s timely intervention that offered the most immediate relief. His generous act not only covered the outstanding loan but provided additional financial support to help the family rebuild their lives.
MA Yusuff Ali, often referred to as the "retail king of the Middle East," heads the LuLu Group International, which operates 271 hypermarkets and malls across the Gulf and other regions. With an estimated revenue of $8 billion, the group is a retail powerhouse, but Yusuff Ali’s success is deeply rooted in his humble beginnings.
Born in a small village in Kerala, Yusuff Ali moved to Abu Dhabi in 1973 to work in his uncle’s modest trading business. Today, LuLu Group is a globally recognized brand. In 2020, a member of Abu Dhabi’s royal family acquired a 20% stake in the group for $1 billion, further solidifying its growth trajectory.
Apart from retail, Yusuff Ali also holds a minority stake in Cochin International Airport, the world’s first fully solar-powered airport.
In an extraordinary gesture, LuLu group representatives visited the family’s home and handed over Rs 10 lakh to the family help them get back on their feet, according to a report published on Keralakaumudi.com. The news of the foreclosure of their house was earlier reported in the local media.
In 2019, Sandhya’s family, according to the report, secured a loan of Rs 4 lakh to complete the construction of their home. However, life took a harsh turn in 2022 when Sandhya’s husband abandoned the family, leaving her alone to manage the household and the loan repayment. Without a steady income, the repayments stopped, and the financial institution initiated foreclosure proceedings.
What added to the family’s distress was the manner in which the foreclosure unfolded. According to neighbors, the family was not present when the financial institutions, locking them out of the house, the report said. They were even denied access to collect their personal belongings, leaving them in a state of complete despair.
However, it was MA Yusuff Ali’s timely intervention that offered the most immediate relief. His generous act not only covered the outstanding loan but provided additional financial support to help the family rebuild their lives.
MA Yusuff Ali, often referred to as the "retail king of the Middle East," heads the LuLu Group International, which operates 271 hypermarkets and malls across the Gulf and other regions. With an estimated revenue of $8 billion, the group is a retail powerhouse, but Yusuff Ali’s success is deeply rooted in his humble beginnings.
Born in a small village in Kerala, Yusuff Ali moved to Abu Dhabi in 1973 to work in his uncle’s modest trading business. Today, LuLu Group is a globally recognized brand. In 2020, a member of Abu Dhabi’s royal family acquired a 20% stake in the group for $1 billion, further solidifying its growth trajectory.
Apart from retail, Yusuff Ali also holds a minority stake in Cochin International Airport, the world’s first fully solar-powered airport.
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