Ten new jobs have been created at the store, which will replace the current Lidl store close by on Buncrana Road.
Local personality Eoghan Quigg will cut the ribbon and officially welcoming the first customers on Thursday.
The relocated outlet is the first of three new Lidl stores planned for the North West, with two more planned for Crescent Link and Strabane.
Regional Director for Lidl Northern Ireland, Conor Boyle, said: “As Northern Ireland’s fastest-growing supermarket, we’re delighted to continue moving confidently forward with our long-established investment plans for the North West, bringing new employment opportunities to the local community and offering customers an enhanced shopping experience at this new location.
“We’re delighted to confirm the new Buncrana Road store opening date for Thursday 29 July.
“We’re looking forward to welcoming shoppers through our doors and bringing our fresh, high-quality products and market-leading value to more shoppers in the North West region.”
The new store will incorporate a range of environmentally friendly features.
These will include an ISO 50001 certified Energy Management System and four electric vehicle charger spaces within its 146-space car park, enabling customers to charge their electric vehicles for free whilst they shop.
Speaking ahead of the new store launch, Eoghan Quigg said: “There are always great opening day deals to be had as well, so it’s shaping up to be a great event.”