Leroy Merlin plans to build shopping center in Sochi
KRASNODAR. April 9 (Interfax) - LLC Leroy Merlin Vostok, the Russian subsidiary of French home improvements retailer Leroy Merlin, plans to build a multifunctional shopping center in Sochi in 2012, the municipal administration told Interfax.
The project will cost around 1.5 billion rubles, the Krasnodar territory investment department told Interfax.
The center will have an area of around 16,000 square meters and include 15 sections, in which goods will be divided into five main categories - home, interiors, construction materials, DIY and garden. A car park and accompanying infrastructure will also be built.
The center should be completed and launched in December 2014. Around 450 new jobs will be created in Sochi.
The deal to build the complex was signed in March 2012 at the MIPIM show in Cannes.
The multifunctional center in Sochi will be the second in Krasnodar territory. The first was opened in Krasnodar in 2008.
Leroy Merlin opened its first store in Russia in August 2004.
Leroy Merlin is a family company established in France in 1923. The chain has over 180 hypermarkets and is part of the ADEO group, which is owned by Auchan.