Retailer Auchan readies for EUR 100 mln investment in Romania this year

Retailer Auchan will invest EUR 100 million this year in Romania, and has already injected some EUR 40 million in revamping and re-opening all the former Real stores under the Auchan brand. The investments also partially include work on the Coresi center in Brasov, and work on the project in Drumul Taberei neighborhood in Bucharest, said Patrick Espasa, general manager of Auchan. The retail is currently working on two hypermarkets, one in Brasov, within the Coresi project, and one in Bucharest. The Coresi project, developed by Auchan's real estate arm Imochan, should be ready in 2015. The project in Drumul Taberei in Bucharest, a EUR 70 million investment in total, will include a hypermarket and offices. Work is in an advanced stage, with the hypermarket's possible opening set for December this year, and the whole project ready in the first half of 2015. Auchan bought competitor Real from Metro Group in late 2012. editor@romania-insider.com