Al Meera Consumer Goods Company said it is investing QR1.5 billion ($412 million) for nine malls in and around Doha, Qatar, which are expected to be completed this year.
The malls are part of an expansion plan aimed at doubling the company’s store space to more than 100,000 sq m, on becoming fully operational, said Guy Sauvage, the chief executive officer.
Eight of these malls are currently under construction and the ninth is a leased store under fit-out. In the next two to five years, the company is planning to build 15 malls across Qatar with a total space of approximately 32,500 sq m.
At the regional level, Al Meera is strengthening its presence in Oman, following the acquisition of three hypermarkets and two supermarkets last year, bringing its store space to 15,400 sq m.
For 2014, the company will renovate three more stores in Oman.