Auchan and Enolainvest, the group behind Jumbo supermarkets, has announced that it intends to tender a bid to invest in what they have termed as a “commercial cluster” in Loulé.
“The group have expressed their interest in investing 400 million Euros in a project that will secure around 4,000 direct and 3,000 indirect jobs. This represents the largest investment of its kind in the area and would include a supermarket plus an area for local traders,” said a spokesman for Auchan and Enolainvest.
This proposal jeopardises the bid by Swedish company Ikea as two large commercial clusters within Loulé would be unacceptable according to planning laws.
Ikea has already announced that it intends to invest 200 million Euros in the area and would create 3,000 jobs.