The Andhra Pradesh government has directed the Visakhapatnam Metropolitan Region Development Authority (VMRDA) to transfer 13.43 acres of Harbour Park Lands back to Andhra Pradesh Industrial Infrastructure Corporation (APIIC), clearing the way for Lulu Group International to resume its proposed shopping mall project in Visakhapatnam.

In its proposal, Lulu Group outlined plans for an international-standard shopping mall featuring a "Lulu Hypermarket," multiple national and international retail brands, an eight-screen IMAX multiplex, an amusement park (Funtura), a fine-dining food court, and parking facilities. To facilitate the mall’s development, Lulu Group requested a 99-year lease, a three-year rent-free period (or until the mall’s opening), and a 10 percent rental increment every 10 years, along with government support for incentives.

Following a review by the State Investment Promotion Committee (SIPC), the proposal was forwarded to the State Investment Promotion Board (SIPB). The SIPB approved APIIC’s evaluation and authorised it to finalise the project with the competent authority’s approval. This development is expected to boost the retail sector in Visakhapatnam and enhance the city's commercial landscape.