In 2015, a “Stolitsa Nizhny” Group entered a new field in its development strategy. The Nizhny Novgorod's largest developer started construction of its first stand-alone retail buildings for other brands: the Russian retail network “Lenta” and the French chain sporting goods hypermarket “Decathlon”.
Hypermarket “Lenta” (12,380 sq.m.) is located on Orekhovskaya street in Avtozavodsky district of Nizhny Novgorod, along the road to the airport. The company plans to complete its construction in December 2015. In Nizhny Novgorod, this will be the third “Lenta” hypermarket. Total investment in the project exceeds 400 million rubles.
Construction of a big box store for “Decathlon” (4,650 sq.m.) began in September, 2015. This is the second store of the French retailer in Nizhny Novgorod, the first located in the shopping and entertainment center “Zhar-Ptitsa” (Firebird) on Sovetskaya square. The new hypermarket “Decathlon” will open on Betankura street in Meshcherskiy district on the lake side, in the immediate vicinity of the subway station “Strelka” and stadium “Nizhny Novgorod”, both currently under construction. The completion of the project is scheduled for summer 2016. Total investment in the project amounts to over 200 million rubles.
The hypermarkets “Lenta” and “Decathlon” are being constructed in compliance with the high standards of the companies, which are among the leaders of the Russia’s and world retailers.
“Stolitsa Nizhny” Group expects that its involvement in developing of similar stand-alone retail buildings will make projects in Nizhny Novgorod attractive to many large retail chains, as it removes the burden of capital expenditures for the construction of buildings from the operators. In addition, large federal and foreign retailers coming to the market give customers a wider range of affordable products.
The new hypermarkets “Lenta” and “Decathlon” will provide the city with 360 additional jobs.
Information about the retailers:
“Lenta” is one of the largest retail networks in Russia and the second largest revenue hypermarket chain in the country: it includes 122 hypermarkets in 63 cities of Russia and 27 supermarkets in Moscow. Today, Nizhny Novgorod has two “Lenta” hypermarkets.
“Decathlon” is a French company specializing in developing, manufacturing and selling sporting goods for more than 70 sports. It has more than 900 stores around the world, including 30 stores in 17 cities of Russia.