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Auchan closes its hypermarkert in DragonMart

UAE-based RetailCorp and French retailer Auchan have decided to close the Auchan hypermarket in the shopping mall of DragonMart in Dubai due to poor economic climate, Reuters has reported. In 2008, Auchan signed an agreement with property developer, Nakheel to create a joint-venture called Hypercorp to operate across the Gulf region, and in August 2009, it opened its first Auchan hypermarket in Dubai with Retailcorp.