Qatar to build Harrods hotels in Malaysia

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http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_818427.html

HARRODS HOTEL, LONDON

Gas-rich Qatar's sovereign wealth fund plans to build luxury hotels in Malaysia, Paris, London and China named after Harrods, the world's famous department store, a report said on Wednesday.

Under a US$636 million (S$806 million) plan, Qatar Holding will partner local Malaysian firm Jerantas to construct a hotel in Kuala Lumpur's golden triangle's shopping district of Bukit Bintang.

Construction work is expected to begin next year. The development will comprise up to 300 hotel rooms, apartments and retail space covering a 2.2ha site, the Star newspaper said.

'We are looking to invest more in Malaysia because we believe the local economy will grow over the next two years at around 5 per cent,' Qatar Holding vice-chairman Hussain Ali al-Abdulla said.