Cora hypermarket network, which currently holds three units in Romania, has acquired an over 5-hectare plot in central Constanta, and is in advanced talks for the acquisition of new locations, according to data provided by company officials.
In Bucharest, Cora is poised to open a store next year in the Sun Plaza mall in Berceni, and will also invest in the expansion of its shopping gallery, in Cora Lujerului, by 3,300 square metres.
In Constanta, Kaufland opened a 6,500 square-metre hypermarket this spring, which is located on an almost two-hectare plot in the city centre, following investments worth 7 million euros. With this in mind, Cora's investment in an approximately 14,000 square-metre hypermarket and a shopping gallery in Constanta could total 20-25 million euros.
The city has been targeted by almost all the major players in FMCG retail, after the first Carrefour and Real hypermarkets opened in Constanta, in 2006. French-based Carrefour worked in partnership with the real estate developer Catinvest, which built the Tom shopping centre on the outskirts of the city, in a project worth 40 million euros. Carrefour's investment totalled 20 million euros.
In turn, Real Hypermarket opened the network's second hypermarket on the Romanian market in Constanta, in a commercial area located on the outskirts of the city, on the route leading to Mangalia.
This area also includes a Metro Cash&Carry distribution centre and a Praktiker DIY store.
As a result of increased seaside tourism, Metro Cash&Carry opened its second Constanta-based distribution centre in November 2004, following investments worth 15 million euros. Areas with a potential large number of tourists continue to be targeted by Metro Cash&Carry Romania, however the company has not announced any openings for the next few years.
Selgros Cash&Carry also opened a store in Constanta, in 2004.
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