Auchan Launches JV With Nakeel

French retail giant Auchan has signed a joint venture agreement with Dubai real estate developer Nakheel to develop a regional retail chain. The new company will be called HyperCorp and will establish a chain of 15 hypermarkets and 40 supermarkets across the GCC over the next 10 years. The JV represents a major new presence in the Gulf region's mass grocery retail (MGR) sector, indicating that competition is continuing to heat up, as more retailers are looking for a share of this region's impressive retail growth.

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