Al Meera planning foray into more ME markets, says deputy CEO.
Al Meera Consumer Goods Company is set to open its fifth outlet in Oman soon and is eyeing other Middle Eastern markets for its overseas expansion.
"Currently we have four outlets in Oman and we have got the approval for the fifth one. Besides, we are exploring the markets in Egypt and Libya," Deputy Chief Executive Officer Nasser al Qahtani told Qatar Tribune on Sunday.
Qahtani said the company is interested in other markets in the region and has submitted its proposal to the board.
"We want to have more presence in the region but the situation in some of the countries is not stable. Although there are huge opportunities in the region, the situation has made us put these expansion plans on hold," he added.
Qahtani said Al Meera is working towards setting up 14 new branches in Qatar. Work began on five shopping centres last year in North Sailiya (Al Miarad), Leabaib 2, Al Wakra (West), Umm Salal Ali, and Bu Sidra. The work will be completed in the next three months.
Al Meera recently signed contracts with with Al Khayarin Group Contracting and Trading and Al Muftah Contracting Company to build six new stores with a total contract value of QR238.7 million.
Qahtani said the company has signed an MoU for the operation and management of two shopping centres, in Fox Hills North and North Residential Villas districts in Lusail City.
Al Meera's expansion plans also include the opening of new branches that serve students at Qatar Foundation for Education, Science and Community Development. Negotiations are under way to sign contracts for the operation of two spaces at student housings (around 80 square metres each), and a space at the Students Center in Education City (approximately 150 square metres).
The company is also negotiating with the Doha Institute for Graduate Studies also to operate a supermarket (approximately 150 sqm).
Talks are also on with with Qatari Armed Forces and Ahmed Bin Mohammed Military College for opening a branch there.
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|Publication:||Qatar Tribune (Doha, Qatar)|
|Date:||Apr 25, 2016|
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