Al Meera, the Qatari retailer, formalizes agreement for construction of malls in Qatar

By Marc Castro

Nov 09, 2013 11:20 AM EST

Retail giant from Qatar, the Al Meera Consumer Goods Company had announced it had signed an agreement to build seven new neighborhood shopping malls in the country. The deal was forged with Al-Aliaa Trading and Contracting Company and Al-Muftah Trading and Contracting Company.

In a statement from the firm, the agreement had Al-Muftah Company would be constructing three new malls to be located at Rawdat Ekdeem, Al Azizia and Zakhira. Al-Aliaa would be managing the construction of four other malls to be built in Al Wajba, Muaither, Al Wakra and Al Thumama. 

According to Al Meera CEO Guy Sauvage, "We are are pleased to sign this agreement with Al-Muftah and Al-Aliaa companies, the two leading companies in their field, to support our expansion plan. The progress of Al Meera will benefit all in Qatar, shareholders and consumers, especially that Qatar was and will remain the major market for our retail company."

He added, "The goal of our expansion is to make everyone very close to Al Meera stores everywhere in Qatar before the end of next year. Al Meera will continue in rehabilitating its old branches and maintaining them to fully transfer to the new innovative concept."

For its part, Al Muftah Managing Director Ibrahim A Al-Muftah had said, "The expansion of Al Meera in Qatar through modern and contemporary buildings reflects the ambition of the company in enhancing a new concept of shopping, suitable for all shoppers' needs. We are ready to cooperate with Al Meera and support it."

The company earlier this year had completed a deal to buy the business and assets of Safeer Stores located in Oman. Al Meera had signed a sale and purchase agreement last January. It would oversee five Safeer hypermarkets and supermarkets that would be run by Al Meera in the Middle Eastern sultanate.

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