Nakheel to debut Auchan hypermarkets in the region

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Nakheel has announced the creation of HyperCorp LLC, a joint venture company with the Auchan Group, one of the world's largest food retailing groups.

A division of Nakheel Retail, HyperCorp LLC will develop the Auchan banner across the Gulf with French company Auchan holding 10% of the capital.

Graham Dreverman, group managing director, Nakheel Retail revealed the company will open 15 hypermarkets and 40 supermarkets across the GCC in the next 10 years and "will expand into other quality developer's projects as well as our own".

"We are extremely pleased to have signed a J.V. with the Auchan Group as we consider they have the best trading platform for our market and a successful track record in other emerging countries."

Hypercorp LLC has appointed Jean Marie Teyssedre as managing director of the new business.

"I am delighted to be leading this exciting venture and to establish the partnership with Auchan. We will set new benchmarks for hypermarkets and supermarkets in the region as Auchan is a global leader in the retail industry," he said.

The new company plans to open a first wave of five hypermarkets located in Nakheel's developments across Dubai including Dragon Mart before the end of 2008, Great Mall Dubai in International City, Palm Jumeirah, Jumeirah Village and Palm Deira.

HyperCorp LLC will further substantiate the company's contribution to the betterment of the communities in which they are a part of, as well as additional stores outside of Nakheel developments.

"We are excited to enter into the Middle East market in partnership with Nakheel. This region offers great opportunities and we are looking forward to working with a company who share our values when it comes to providing the highest quality of service and positively impacting the daily lives of the people in our communities," said Christophe Dubrulle, chairman of the board of the Auchan Group.

"We have proved in the past our know-how in developing our activity in various countries and regions and our capacity to provide to every consumer the most attractive offer available in terms of prices and choice, and we are confident in the success of this new challenge."

Nakheel Retail is an integrated retail division within Nakheel, operating from four main platforms:  Nakheel Retail Shopping Malls, Nakheel Retail Retailcorp, Nakheel Retail Food & Beverage and Nakheel Retail Hypermarkets.

Created in 1961, the Auchan Group is the world's 13th largest food retailing group. It operates in 12 countries through 1141 stores as at 30 June 2008, and has a workforce of 186,000. It is organised in four divisions: Hypermarkets with 425 stores in 12 countries, Supermarkets with 716 integrated stores in 5 countries, Banque Accord in 10 countries and Immochan's real estate activity and management of 268 shopping centres in 12 countries.

Discount prices, choice and offer diversity, adaptability with regard to local modes of consumption and the quality of service provided to customers are the guarantee of the ongoing loyalty of Auchan customers around the world.

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