Qatar Plans Harrods Hotels in Malaysia, New York, Paris
Qatar Holding LLC, the investment arm of the country's
sovereign-wealth fund, plans to open Harrods hotels in cities
including London, New York and Paris to build the British luxury
retailer it bought two years ago into a global brand.
"We have already decided to build a Harrods Hotel in London, one
in Kuala Lumpur and one in Sardinia, Italy," Qatar Holding Vice
Chairman Hussain Ali Al-Abdulla told reporters in the Malaysian
capital today. "We are looking to invest more in Malaysia because
we think the economy is growing."
The Doha-based fund signed an agreement with Malaysian partners
today to build a hotel in Kuala Lumpur's Bukit Bintang shopping
district, Hussain said. About 2 billion ringgit ($634 million) will
be spent on the development and construction will start in a year.
It didn't provide specifics about plans for London or Italy.
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