By: Eslam Salem

Doha – Mubasher: Salam International Investment Ltd plans to expand in the retail sector through launching several projects worth QAR 400 million ($109.84 million) in 2016, the company’s Chairman, Essa Abdul Salam Abu Essa, told Mubasher on Tuesday.

The expansion plan includes the opening of a 9,000  warehouse complex square meters and 50 headquarters in shopping malls around the country, Abu Essa said.

“Our financial position and projects are good at the moment, and we hope that oil prices and political conditions improve before the end of 2016,” he added.

Salam International’s shareholders approved yesterday the board of director’s proposal to distribute cash dividends at 10% of the capital or QAR 1 ($0.27) per share for the fiscal year 2015.

Translated by: Elwy el-Manzalawy