Qatar Holding is planning to open the first Harrods-branded hotel and residences in Kuala Lumpur, two years after the investment firm bought the iconic London department store for US$2.3bn, it was reported on Tuesday. According to local media in Malaysia, Qatar Holding will today announce a US$635m deal to develop a Harrods Hotel in Bukit Bintang, the shopping and entertainment district of downtown Kuala Lumpur. The agreement will be in cooperation with Tradewinds Corp, which holds the franchise for the Harrods brand in Malaysia. A source told the Business Times newspaper the project may also include Harrods-branded residences. Tradewinds had indicated as far back as 2008 that it was interested in developing Harrods-branded residential, commercial and hotel projects in Malaysia and last year it was rumoured to be talks with three developers to build the first Harrods Hotel. Qatar Holding, the investment arm of the Qatar royal family, bought the prestigious London department store from Egyptian-born businessman Mohammed Al Fayed for a around US$2.3bn. Business.com

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