LONDON-Two days after buying the famous Harrods here for $1.9billion, Qatar Holdings, the investment arm of the Middle Eastnation, is considering opening up a similar store in Shanghai,China, according to a report by the Financial Times. The iconicLondon store is the largest of its kind in the country, with morethan one million square feet of retail in at least 300departments.

The Al Fayed family sold the Harrods Group to Qatar Holding onMay 8. Credit Suisse advised the buyer on the transaction. “It is aprivilege for us to acquire Harrods, a unique company that combinesan iconic luxury brand and one of the most prestigious retailproperties in the world with best-in-class financial metrics,” saidAhmad Al Sayed, CEO and managing director of Qatar Holding, in astatement. Mohamed Al Fayed will become an honorary chairman ofHarrods.

In an interview, Al Sayed his priorities include investigatingwhether a store in Shanghai serving Southeast Asia makes sense, aswell as considering a renovation project for the London store andthe creation of an online Harrods.

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