Dedeman to build store in Galati on plot of land bought from GTC

Romanian DIY retailer Dedeman has purchased a 3.2 ha plot of land in Galati from real estate developer GTC, according to The Advisers/ Knight Frank, the real estate advisory which acted as intermediary.

GTC was previously planning to build a Galleria shopping mall on the plot of land.

Owned by Romanian businessmen Dragos and Adrian Paval,  Dedeman owns a network of 30 stores countrywide which range between 6,000 and 18,000 sqm.

The company opened four new stores last year located in Constanta, Ramnicu Valcea, Slatina and Bistrita and plans to reach 45 stores by 2015.

Dedeman is the leader of the Romanian DIY market ahead of international players such as Praktiker, Bricostore, Baumax, Obi and Hornbach. In 2011 the company reported a turnover of about RON 2 billion (approximately EUR 460 million).

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