Harrods Sold For £1.5bn ($2.3bn) To Qatar — Non Aviation Forum

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Harrods Sold For £1.5bn ($2.3bn) To Qatar

oa260 From Ireland, joined Nov 2006, 24873 posts, RR: 60
Posted (3 years 1 week 3 days 17 hours ago) and read 1722 times:

Mohammed Al Fayed sells Harrods store to Qatar Holdings

Mohammed Al Fayed has sold London department store Harrods to the Qatari royal family's investment company for a reported £1.5bn ($2.3bn).
The Egypt-born tycoon acquired the business in Knightsbridge following a £615m takeover in 1985.
Ken Costa, an adviser to the deal with Qatar Holdings, said Mr Al Fayed was retiring "to spend more time with his children and grandchildren".

http://news.bbc.co.uk/2/hi/business/8669657.stm

I hope they dont make too many changes.

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8 replies: All unread, jump to last

MadameConcorde From San Marino, joined Feb 2007, 10241 posts, RR: 40
Reply 1, posted (3 years 1 week 3 days 17 hours ago) and read 1708 times:

I saw this earlier today. Why did Mohammad Fayed sell Harrods I wonder?
What has decided him to sell Harrods? I thought he wanted to be buried in a pyramid inside Harrods when he died?

As to the Qatari they are really looking hard to invest. They wanted to buy the whole Société des Bains de Mer here in Monaco - which is owned at 70 % by Prince Albert and the Grimaldi family. The Qatari investment fund got 2,4 % of the SBM which is the largest employer in Monaco with still over 3,000 employees.

I hear that Qatar are still trying to acquire property and businesses in Monaco as they are betting on the Principality as a booming place and tax haven which it is so they are trying to set foot in the Principality. I am not sure how successful they will be. This remains to be seen.

There was a better way to fly it was called Concorde

Ken777 From United States of America, joined Mar 2004, 7437 posts, RR: 5
Reply 2, posted (3 years 1 week 3 days 16 hours ago) and read 1614 times:

I'll assume that all Harrod's locations were included in the deal. Per square foot I'd bet that some of the LHR stores competes with the main store.

I'll also assume that the price includes the land, free & clear.

MadameConcorde From San Marino, joined Feb 2007, 10241 posts, RR: 40
Reply 3, posted (3 years 1 week 3 days 6 hours ago) and read 1457 times:

What is the reason for the sale I wonder?
Did Mohammad Al Fayed need an influx of fresh cash?

I am curious to see if he will now sell the Ritz Hotel on the Place Vendôme.

There was a better way to fly it was called Concorde

SOBHI51 From Saudi Arabia, joined Jun 2003, 3007 posts, RR: 17
Reply 4, posted (3 years 1 week 3 days 3 hours ago) and read 1392 times:

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Quoting MadameConcorde (Reply 3):
What is the reason for the sale I wonder?
Did Mohammad Al Fayed need an influx of fresh cash?

I am curious to see if he will now sell the Ritz Hotel on the Place Vendôme.

Mr. Al Fayed was involved in the day to day running of Harrods. He was usually in his office by AM daily.
If he is selling Harrods to be with his family then i don't think that the same will apply on the Ritz hotel.

MadameConcorde From San Marino, joined Feb 2007, 10241 posts, RR: 40
Reply 5, posted (3 years 1 week 3 days 2 hours ago) and read 1389 times:

This has to be the biggest Real Estate transaction of late in London.
I don't see what else could be sold at such a value.
I wonder if the land is also included in the transaction?

Any idea of the final sales price, all inclusive, paper work and all?
Is the transaction closed?

Her Majesty is probably happy that he will no longer be the owner of Harrods.

There was a better way to fly it was called Concorde

SOBHI51 From Saudi Arabia, joined Jun 2003, 3007 posts, RR: 17
Reply 6, posted (3 years 1 week 2 days 22 hours ago) and read 1305 times:

Quoting MadameConcorde (Reply 5):
Her Majesty is probably happy that he will no longer be the owner of Harrods.

Maybe now the Royal seal will be back.

Hywel From Peru, joined Apr 2008, 717 posts, RR: 3
Reply 7, posted (3 years 1 week 2 days 22 hours ago) and read 1297 times:

Quoting MadameConcorde (Reply 3):
What is the reason for the sale I wonder?
Did Mohammad Al Fayed need an influx of fresh cash?

He's probably wasted his entire fortune on trying to persuade the media that his son was killed by MI5 and Princess Diana's death was a conspiracy... no wonder he needs a quick influx of cash!

ME AVN FAN From Switzerland, joined May 2002, 13872 posts, RR: 28
Reply 8, posted (3 years 1 week 17 hours ago) and read 1192 times:

Quoting MadameConcorde (Reply 1):
Why did Mohammad Fayed sell Harrods

Due to the lack of a successor of his choice. Dodi was the heir for that role.

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