Marka plans 100 retail outlets across GCC by 2019

April 13, 2014 1:46 am

Marka, the company planning the first initial share offering on Dubai’s main stock market, has announced it will spend the proceeds on opening more than 100 retail outlets across the Gulf region over the next five years, Reuters has reported. Dubai-based Marka plans to invest in the fashion retail and food and beverage markets of the UAE and the Gulf, sectors which are growing rapidly because of the region’s consumer boom. Set up by prominent businessmen in the UAE, the firm will offer for sale 55% of its capital or 275 million shares at Dhs1 ($0.27) each, in a 12-day sale beginning today.