The Harrods brand will soon be associated not only with the most famous store in London. One of the largest investment funds in the Middle East and the owner of the Harrods brand, Qatar Holding Company, decided to bring the legendary brand beyond the retail trade market. The following year the Qataris plan to build the world's first Harrods hotel in Malaysia.
New hotel will be located in the Bukit Bintang district, known as a key "shopping area" of Kuala Lumpur, the capital of Malaysia. The hotel will be designed for 300 rooms. In accordance with the main Harrods activity, part of the hotel area will be devoted to boutiques and shops.The Malaysian side participating in the project will be presented by the Jerantas Sdn Bhd Company. In total the two companies intend to invest about 2 billion ringgits (about $650 million) into the new hotel. The total are of the hotel will be 2.2 hectares.
The British press notes that Qatar Holding expects to start Harrods hotel expansion all around the world. Among the main selected destinations are the largest metropolitan areas in the world, where the holding owns any real estate. These are Paris, New York, Costa Smeralda on Sardinia, London and China.
As noted by the Guardian, according to Hussein Ali Al Abdullah, the vice-president of the holding, it was decided to build Harrods hotels in London and on Sardinia in addition to Malaysia. As for the hotel in Malaysia, it is planned to be 7-star.
Qatar Holding acquired Harrods retail chain in 2010. Then the company bought the mall from the Egyptian billionaire Mohamed Al Fayed for 1.5 billion pounds. Today Qatar Holding is one of the major players in the London real estate market. Arab monopoly owned dozens of luxurious buildings in the British capital. Among the latest most famous buildings from Qatar Holding is Shard skyscraper in London, which has become the tallest building in the EU.