15 Apr '09
St. Petersburg based retailer O’Key intends to build a $14.7m shopping and entertainment mall in Omsk, Valentin Frenzel representing the project investor, Luxemburg’s Dorinda Holding S. A., said today.
The 12,000-square-meter project reportedly has four-year payback.
According to Mr. Frenzel, Dorinda Holding S. A. has long-term plans to build two hypermarkets in each of the Russian cities with population of more than 1 million.
Construction of the O’Key Omsk mall will reportedly kick off in the fall of 2009 and is to be completed in Q4 2010.
O’Key is a nationwide retail chain currently running 43 hypermarkets throughout Russia.