Real Hypermarket could postpone the opening of two stores initially planned for next year, because some of the real estate developers the company signed leases with could not secure loans from banks to start the projects.

"Real is not affected directly by the financial crisis or by the current economic situation in Romania. An indirect effect, however, is the postponement of the opening of two stores, because some of the developers could not secure loans from banks to carry out their projects.

However, they may get them in 2009. Our expansion plans have not changed, they were merely postponed," said Tjeerd Jegen, general manager of Real Hypermarket Romania. According to the initial plan, Real was supposed to open seven hypermarkets on the Romania market in 2009. Jegen explained that the sales in the network's stores had increased in October compared with the previous months, with consumer spending not having gone down in this period.

Real inaugurates its 17th hypermarket in Romania, in Arad today, following an around 22 million euro investment. The retail area of the store is approximately 7,500 square metres.

The retailer will reach 20 hypermarkets by the end of the year, below the 21 target announced for 2008.

"The store in Constanta, which was scheduled to open this year will be finalised by the end of 2008 but there will not be enough time to inaugurate it this year," Jegen added.

Real, the hypermarket division of Metro, posted 367 million-euro turnover in Romania last year, an increase of 347% on 2006, as a result.

The company's manager estimates almost three-digit growth this year (i.e. close to 100%), which could put the business at more than 700 million euros.

The network opened the first store on the domestic market in the spring of 2006 and will reach total investments worth 300-350 million euros by the en