AEB will handle the design of Al Meera’s two shopping mall projects (Ain Khaled and Mansoura), including two hypermarkets. The total area of the outlets will reach 100,000square meters. This expansion is an affirmation of Al Meera’s stragety to break into the hypermarket business.
“We selected AEB as we wanted our customers to know that Al Meera will only select the best companies to build our new retail stores,” said Dr. Mohammed Nasser Al Qahtani, Deputy CEO of Al Meera. “The Arab Engineering Bureau has designed and constructed well over a thousand projects for other clients in Qatar, and has been at the forefront of the country’s development. We are delighted that they are partnering with us as we drive our expansion plans forward.”
Al Meera’s expansion plan has solely the customer in mind. With more retail stores, practically all residents of Qatar will be only a short distance from an Al Meera outlet. Furthermore, with high profile and well-established involved in the new stores, customers can expect a more pleasant shopping experience as the new innovative designs and updated layouts will making shopping easier and more convenient.
“We intend to add another 200,000 square meters of retail space over the course of the next few years,” explained Mr. Guy Sauvage, Chief Executive Officer. “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 year 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,” concluded Mr. Sauvage. “We are committed to all our stakeholders, whether they be holding Al Meera stock, or shopping for goods from one of our outlets.”
Wednesday, September 7- 2011 @ 13:13 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.