Upwards of 80 new jobs will be created later this year at the former B&Q store in Londonderry.
UK home, garden and leisure retailer, The Range is behind the Buncrana Road project.
The new outlet will include furniture department, family café and an outdoor garden centre.
The company which has 130 stores throughout the UK and Ireland, is owned and run by entrepreneur and self-made billionaire, Chris Dawson.
Mr Dawson said: “Following the successful launch of our Ballymena store last October, we are really excited to continue our Northern Irish expansion later this year. It is a great step in helping the business to progress and grow.
“We look forward to welcoming the locals into their new store to explore the vast selection of quality products at low prices that we have available.
“The local job generation that will come with this new store is sure to be a tremendous boost for the local economy and a positive addition to the retail park.”
Welcoming the employment fillip at Faustina Retail Park, SDLP Foyle Assembly candidate Mark H Durkan said: “This is a much-needed and welcome boost for our local economy.”