ArabianBusiness.com - Middle East Business News
Sunday, 22 November 2009 01:07 UAE time

YOUR DIRECTORY /

| Share |

Nakheel signs up to hypermarket deal

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 08 July 2008
RETAIL BOOST: Nakheel has set up a food retail joint venture to build new hypermarkets with French retailer Auchan Group. (Supplied)

Dubai government-owned Nakheel Properties said on Tuesday it has set up a food retail joint venture to build new hypermarkets with French retailer Auchan Group.

HyperCorp LCC, a division of Nakheel Retail in which Auchan holds a 10 percent stake, will open five hypermarkets in Nakheel's developments in Dubai before the end of this year, it said in a statement.

The firm plans to open 15 hypermarkets and 40 supermarkets across the Gulf Arab region in the next 10 years, Nakheel's Managing Director Graham Dreverman was quoted as saying in the statement.

Story continues below
advertisement

The firm did not mention the capital of the firm nor when it would start operations. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

RELATED LINKS

  1. Auchan Group»
  2. Nakheel - UAE»

 EMAIL ALERTS

  1. Auchan Group

  2. Nakheel - UAE

  3. Real Estate


CURRENCY CONVERTOR

Tell us your story

READER COMMENTS

  1. UAE announces Eid and National Day holidays 02
    21 Nov ' 09 at 10:22
    Is it any wonder that Emiratis are reluctant to work in the private sector? One day extra and no request for early payment of salaries.   More  »
  2. RTA to lease out last batch of retail outlets available on Red Line 01
    21 Nov ' 09 at 14:10
    What happened of Last Minute and their 28 outlets - one on each station?   More  »
  3. Dubai plans start-up help for expat entrepreneurs 01
    21 Nov ' 09 at 11:37
    this is great news really makes sense, especially since Small & Medium Enterprises actually make UAE. I sincerely hope that this is...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM