MOSCOW TIME: 05.05.2024 20:11:18
OBI, a German DIY retail chain, plans to have constructed two own hypermarkets in Russia by 2017.
OBI to construct two own hypermarkets in Russia
OBI, a German DIY retail chain, plans to have constructed two own hypermarkets in Russia by 2017.
Nowadays, there are 25 operating OBI stores in Russia and another seven hypermarkets are expected to have been opened by the end of the year. Two of the seven hypermarkets will be constructed by OBI itself.
"According to our estimates, investments into the construction of one store may reach EUR 30 million. We plan to have constructed two our stores by 2017 and there will be six in the long-run", Ian Strickland, OBI's CEO, said.
No details of the project have been disclosed. However, it is known that the area of the stores will total up to 14,000 square meters of which about 11,000 square meters will be devoted to retail purposes.
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