Spar Hungary launches HUF 4 bln investment

Industrial

The Hungarian unit of retail chain SPAR today (October 5) laid the cornerstone for a HUF 4 bln hypermarket investment in the city of Érd, near Budapest, Hungarian news agency MTI reported.

The Interspar unit under construction is expected to be one of SPAR Magyarország’s biggest, with a total area of 7,000 sqm. It is due to open in the spring of 2017 at the latest, and would employ a staff of approximately 100.

SPAR Magyarország is contributing HUF 400 mln to the upgrade of a motorway exit near the store, MTI reported. Érd Mayor András T. Mészáros said the local government would get 540 sqm in the store for municipal services and other tasks.

Hungary introduced a ban on the construction of shopping centers bigger than 300 sqm from 2012, MTI recalled, adding that the area threshold was bumped up to 400 sqm when the ban was extended into 2015. Businesses may still apply to a special committee for an exemption.

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