Marka, the first pubic joint stock retail operator in the UAE, plans to enter into Qatar during the second half of 2016, according to top officials.

The company is currently celebrating 12 months of operations since listing on the Dubai Financial Market (DFM).

Khaled Almheiri, vice-chairman & managing director, Marka said: “Marka is proud to celebrate its first full year of trading on the DFM. On this special anniversary, we would like to thank everyone – in particular our shareholders and employees - who are helping to realise Marka’s vision and ambition of becoming the premier retail and hospitality operator in the UAE and beyond.”

Marka was the first company to conduct an IPO in the UAE since 2009, a statement said. The IPO opened in April 2014 and was well received by the local investor community, being 37 times oversubscribed. The company listed its shares on the DFM on September 25, 2014.

At the time of listing, the company had no outlets under operation and approximately 10 employees. Today, the company has 37 retail outlets under management representing more than 265,000 sq ft of retail space, with a staff complement of 1,082 employees.

The company operates three divisions; Marka Sports, Marka Hospitality and Marka Fashion, with its business model one of taking established international and local brands that show strong potential, under its umbrella to extend their footprint in the UAE and across markets in the GCC. The company also develops and operates its own home-grown concepts.

During its first year of operations, Marka launched nine retail outlets, with 12 additional outlets set to open in 2015. To date, the company has conducted five strategic acquisitions, including the sports group Retailcorp UAE from Istithmar World, the leading children’s edutainment chain Cheeky Monkeys, the world’s largest e-retailer of football memorabilia, ICONS, the award winning restaurant group Reem Al Bawadi and the Middle East operations of UK-based Morelli’s Gelato.

Nick Peel, Marka CEO said: “To say that Marka has had a busy first year would be something of an understatement. We have proven our commitment to expanding our retail and hospitality footprint and in doing so, have enhanced the region’s retail industry.”

“I am delighted with the progress from our first 12 months of operations,” he added. “We will certainly be celebrating this important milestone with our employees, but we are not resting on our laurels. We have much planned to take us up to our second anniversary next year.” – TradeArabia News Service