(MENAFN - Qatar News Agency) Qatar Al Meera Holding plans to build two new shopping malls in Doha, one at Ain Khaled area and the other at Al Mansoura, including two hypermarkets. "We awarded the contract to Arab Engineering Bureau (AEB) as we wanted our customers to know that Al Meera will only select the best companies to build our new retail stores," said the Al Meera Deputy CEO Mohammed Nasser al Qahtani.
The total area of the outlets will reach 100,000 square metres. This expansion is an affirmation of Al Meera s strategy to break into the hypermarket business.
"We intend to add another 200,000 square metres of retail space over the next few years," explained Chief Executive Officer Guy Sauvage. "Customers will soon be able to reap the benefits as our expansion strategy will see more competitive prices and a completely revamped shopping climate."
Numbers also show the success of Al Meera's aggressive expansion strategy. The retail chain recently announced their half-yearly results, posting an 18.5% gain over the same period last year. The main contributor to this achievement has been the operational profit, which grew over 50% as compared to the same period last year.
"Our expansion plans not only make sense for our customers, but also sense for our shareholders," said Sauvage.
"We are committed to all our stakeholders, whether they be holding Al Meera stock or shopping for goods from one of our outlets," he added.
Al-Meera Consumer Goods Company was established in 2004. Al-Meera is a share holding company, and is 26% owned by the Qatari government, and 74% owned by shareholders.
Al-Meera is a Mass Grocery Retailer (MGR) having more than 20 branches in Qatar. Al-Meera conducts direct sales of fruits and vegetables, meat, fish, fresh food and similar items. Al-Meera has recently developed its shops in cooperation with a reputable international consultancy house to meet international standards in aspects such as interior design, marketing, promotion, and other technical and operational aspects.