Komfie Manalo, Opalesque Asia:
The $115bn Doha, Qatar-based Qatar Investment Authority said that Britain would remain as its main investment destination adding "the QIA was happy to invest more in the UK when the right opportunity came along" because of good revenues.
"Britain is one of our major destinations of our investment, It has a great system with great regulations. We have Harrods, we have other investments in Britain like Barclays, Sainsbury, Canary wharf and London Stock Exchange. We are happy to invest more when opportunities come along," said H.E. Ahmad Al-Sayed, CEO of QIA.
He said Qatar Holdings bought Harrods in 2010 at a time when the QIA management team has different ideas to improve the store. Since then, QIA implemented many changes and anyone can walk around the store and see the difference between 2010 and 2014. It will be four years this coming May since QIA made the acquisition. Al-Sayed said QIA spent £250m to improve the store and the strong performance showed that improvement. Sales were up 60 to 70% following their investment.
"Harrods represents British heritage. We are doing our best to take Harrods to the next level of performance and we are working hard with the management team to improve the store further. We are focusing on improving the quality, the performance and the service. The clientís view is extremely important to us. You can see we are really careful about what ......................
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