Businessman Iulian Dascălu, owner of Iulius Group and thebiggest Romanian shopping centre owner, has struck a deal withAuchan hypermarket chain to open a new store in a space developedby Iulius Group within Palas real estate project in Iaşi, locatedbehind the Culture Palace.
Dascălu and Auchan have thus extended the collaboration forIulius Mall shopping centres in Timişoara, Cluj, and Suceava, whichmake the French hypermarket chain Dascălu's main tenant in terms ofthe area occupied in his shopping centres.
The Palas project in Iaşi entails a 260 million-euro investment setto be completed in the autumn of next year. Auchan and Iulius Grouprepresentatives did not provide further details on the contract,with a joint press conference to be organised over the next fewdays.
Auchan is one of the retailers that did not see a heavy expansionin the period of economic boom, but the French have announced plansto double the number of stores, to 14, by the end of 2012. TheFrench have other contracts signed for Constanţa's Polus Center,for Coresi Braşov, and for Pallady Shopping Center in Bucharest,but there are no construction works underway at present on at leasttwo of these projects, according to the available information, soinaugurations will probably be delayed.
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