Qatar Holding plans $1.36bn Italian hotel project
Project will include a 150-room Harrods Hotel
Qatar Holding will build four luxury hotels in Sardinia, Italy.
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Qatar Holding plans to build four luxury hotels on Sardinia, an island in the Mediterranean Sea and an autonomous region of Italy.
Qatar Holding LLC (QH) is a global investment house established in 2006, founded by the Qatar Authority (QIA). QH invests internationally and locally in strategic private and public equity as well as in other direct investments.
News service ASNAmed reported the project includes an aquatic amusement park, a low-impact electric Go-Kart route within a former landfill at Abbiadori, expanding roads and water and sewer systems.
The company will build four luxury hotels on Sardinia’s Costa Smeralda, more than doubling tourism capacity to 900 beds. The project will include a 150-room Harrods Hotel. Harrods was sold to Qatar Holdings, the sovereign wealth fund of the State of Qatar in May 2010, for $2.3bn; half of the sale was used to pay bank debts of $981mn.
Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani came to London to finalise the Harrods sale, saying that the acquisition of Harrods would add “much value” to the investment portfolio of Qatar Holdings while his deputy, Hussain Ali Al-Abdulla, called it a “landmark transaction.”
