Germany's DIY retail chain Bauhaus is in the final stages of signing a contract for the land where it will build its first hypermarket in Sofia, said Veselin Rusev, a representative of consulting company BG Malls.

The store is expected to be part of Sredets retail park in Sofia's Nadezhda district, confirmed a representative of investors in the park. It will spread on an area of 20,000 square meters and will offer a wide range of furniture.

The contract is scheduled to be signed by the middle of this month.

Bauhaus has been examining the Bulgarian market for four years and they seem to have finally decided to become a player on it and rival the other DIY retail chains present here, including Baumax, Praktiker and Mr. Bricolage.

The company is said to plan the opening of at least two or three stores in the capital Sofia, which will be followed by an expansion in the other bigger cities.

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