OBI, a leading European Building Materials and furniture Corporation, will invest 165 mln RMB to set up an outlet in Nanshan district of Shenzhen, Guangdong Province. The contract will be signed in the Hong Kong and Guangdong Business Seminar 2004 held in Britain on October 26th.

It is reported that four European giant: OBI, IKEA, METRO and DECATHLON will joint hands to build a "Europe town" with an area of 105,000 sqm. in east Shahe road of Nanshan district in Shenzhen.

OBI is the largest home improvement retailer in Germany and the 4th largest in the world. It has 460 stores all over the world, 10 of which located in China. OBI planted to invest 60 mln USD to set up three supermarkets in Shenzhen, two of which will be built in Nanshan, reported Shenzhen Business.

Editor: Olivia

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