Qatar buys Harrods for 1.5 billion

Al Fayed had acquired Harrods, located in London’s exclusive Knightsbridge, in 1985 for £615 million.

“After 25 years as Chairman Al Fayed has decided to retire and spend more time with his family,” his investors told BBC.

Qatar holding, the investment arm of Qatari royal family will become only the fifth owner of the icon store since its creation in 1840.

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