Who owns harrods 2010

Like other resource-rich Gulf states Qatar has sought to diversify its economy by using the huge surpluses generated by its natural gas reserves to invest in western companies including Sainsbury, Volkswagen and Barclays. People familiar with the Qataris' thinking said they were not looking for "trophy assets" but technologies and ideas that could be used to develop their own domestic economy. However its trophy status puts it in a league of its own.

Fayed, who owns Fulham football club, does not need the money at present — although he did not draw a dividend from Harrods last year. Egyptian-born businessman Mohammed al Fayed has sold prestigious London department store Harrods to the investment vehicle of the Qatar royal family in a deal reported to be worth around 1. A spokesman for Lazard, which advised the al Fayed family trust, declined to confirm the value of the deal which was reported by Sky News, citing unnamed sources.

Mr al Fayed, who also owns English soccer club Fulham, bought Harrods in for about million pounds at a time when the group also owned the House of Fraser department store chain, which was later spun off. A colourful figure, Mr al Fayed waged a long campaign claiming his son Dodi and Princess Diana, who died together in a Paris car crash in , were murdered in a conspiracy.

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Qatar Holding will be the fifth owner of Harrods since its creation. By Avril Ormsby. Qatar Holding, the prime vehicle for strategic and direct investments by the State of Qatar, would not confirm the estimated figure reported by Sky News. The deal brings to an end 25 years of ownership by al-Fayed, who will become honorary chairman.

Related Coverage. In December , the Irish Republican Army detonated a car bomb near Harrods that killed six people during the Christmas shopping rush.

Share this on:. Harrods began as a small store in in London to capitalize on trade from the upcoming Great Exhibition in nearby Hyde Park. Most Popular. Fine art from an iPhone?