Abu Issa Holding
Abu Issa Holding, one of the largest retail and luxury goods firms in the Middle East, plans to expand into Iran next year and open stores in Tehran selling watches and confectionery as the market opens up after sanctions. The family-run Qatari firm is an example of a Gulf Arab business that could benefit from the lifting last January of nuclear-related sanctions that largely closed Iran off for years... "It's an obvious expansion for our business," 48-year-old Ashraf Abu Issa, chairman and chief executive of Abu Issa Holding, said at the Reuters Middle East Investment Summit... "We will start with five or six stores in Tehran. We plan to open a similar number every year for the next five years and also in the city of Isfahan, which we expect to become a touristic hub in coming years." (Reuters, "Qatar's Abu Issa Holding to enter Iran retail market in 2017," 10/31/2016).