Hypermarket operator Cora will open its first shopping center in Constanta, on the Romanian seaside. The hypermarket, which was announced in 2011, will be called Corall. Work on the project started in the spring of 2012. The opening was initially set for June 2013, but, according to Romanian daily Ziarul Financiar, the hypermarket will open two months ahead of schedule.
Back in 2011, the developers announced that the project would include an 8,500 sqm hypermarket, a 25,000 sqm shopping galleria, a cinema and a food court area, under an investment of EUR 100 million. Corall will be the fifth shopping center in Constanta, competing against Maritimo, Tom, City Park and Tomis.
Cora has similar projects lined up for Brasov and Bacau, with similar investment values.
In November 2012, Cora opened its fourth hypermarket in Bucharest, on Soseaua Alexandriei, in the south west region of the city. The retailer invested some EUR 47 million in this new store, which covers 53,000 sqm.
Cora plans to open two more hypermarkets in 2013, in Constanta and Slobozia, and two more in 2014, in Brasov and Ploiesti. Over the long term, it hopes to open up to 20 stores within five to eight years.
(photo source: the company)