Complex Made Simple

Harrods Hotels planned for Malaysia, New York, Paris

Qatar Holding, 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, Bloomberg has reported. The Doha-based fund signed an agreement with Malaysian partners yesterday to build a hotel in Kuala Lumpur's Bukit Bintang shopping district, said Qatar Holding vice chairman, Hussain Ali Al-Abdulla. About $634m will be spent on the development and construction will start in a year, he said. The fund will establish a hotel-management company to seek out projects around the world.