Qatar Holding, owner of Fullham team, buys Harrods
Qatar Holdings, a state run investment group and the owners of the Fullham team, have bought the landmark Harrods department store in London on Sunday, buying the upmarket London store for a reported 1.5 billion pounds or $2.3 billion.
THE OWNERS of the Fullham team, Qatar Holdings bought the landmark Harrods department store in London on Sunday. Qatar Holdings, an investment firm by the Qatar Royal family and the prime vehicle for strategic and direct investments by the State of Qatar, bought Harrods for reportedly 1.5 billion pounds or $2.3 billion.
Qatar's prime minister, who is also Qatar Holding chairman, quoted that the investment group was thinking of upgrading the upmarket store chain, which is a landmark in the Knightsbridge area in London. At a news conference organised at the store, he said, "What I can assure you is Qatar Holding will do their best to upgrade this monument, to make it even greater and better for the tourism and also for the British people."
According to Sheikh Hamad bin Jassim al-Thani, the road map, to upgrade Harrods, will be laid out in the next few months.
Qatar Holding, a part of the Qatar Investment Authority, was founded in 2005, by the state of Qatar, to look into diversifying new asset classes. It is one of the largest soveriegn wealth funds and has more than $60 billion in assets under its management.
Qatar Holding, which also owns the Fullham team, has a stake in the Sainsbury chain as well as the London Stock Exchange and Credit Suisse.
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