Mohamed al-Fayed Reaps $A2.5 Billion From Harrods Sale

Harrods LondonMOHAMED al-Fayed has reaped about $A2.5 billion from the sale of one of the world’s most famous shops, Harrods, in Britain.

The sale ends 25 years of ownership by Mr al-Fayed, who paid <!– /* Font Definitions */ @font-face {font-family:”Cambria Math”; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:-1610611985 1107304683 0 0 415 0;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-520092929 1073786111 9 0 415 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:””; margin-top:0cm; margin-right:0cm; margin-bottom:10.0pt; margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt; line-height:115%;} @page Section1 {size:595.3pt 841.9pt; margin:72.0pt 72.0pt 72.0pt 72.0pt; mso-header-margin:35.4pt; mso-footer-margin:35.4pt; mso-paper-source:0;} div.Section1 {page:Section1;} –> £615.

The new owner is the Qatari royal family.

Harrods includes seven levels of retail space and includes 300 department stores attracting some 15 million shoppers a year.

Read more

New Michael Jackson Memorial Planned For Gary, Indianna

Michael JacksonA memorial complex possibly including a golf course and amusement park with characteristics of the Neverland Ranch, have been mooted as a proposal to honour the late Michael Jackson.

The proposal, for 100 acres of city owned vacant land along Interstate 64 in Gary, Indiana, is yet to be approved.

It will be additional to another memorial – ten acres of city owned land in Gary, where Michael Jackson was born – will make way for a museum, performing arts centre and 300-room hotel, according to the Daily Telepgraph.

Read more

Telstra to Float Chinese Real Estate Website Soufun

Beijing
TELSTRA will float major Chinese real estate website Soufun.

Telstra, which is not commenting further because it is uncertain where Soufun would be listed, paid $US254 million for a 51 per cent stake in SouFou in August 2006, under the directorship of Sol Trujillo.

It is one of seven Chinese investments for Telstra, which also owns websites for cars, electronics and mobile phone services.

In a statement, Telstra said “Subject to regulatory requirements, further details will be provided as the process proceeds”.

Read more

Kylie Minogue, Andres Velencoso Inspecting Manhattan Apartments

POP Princess Kylie Minogue is reportedly inspecting apartments in midtown Manhattan.

The Melbourne singer, and her spanish boyfriend Andres Velencoso are reportedly looking to buy in New York, in an attempt for both to boost thir profiles. Mr Velencoso is a model.

The London Mail reported an “insider” confirming the couple have been in the Manhattan market.

Read more

McDonald’s to Quit Iceland After 16 Years

Ronald McDonaldFAST food giant McDonalds will shuts its three Iceland stores next weekend.

Franchise owners have cited falling profits caused by the collapse in the Icelandic krona, as a reason for shutting the three Reykjavik restaurants.

McDonalds, long considered a symbol of globalisation, and is the world’s largest chain of hamburger fast food restaurants according to Bloomberg. It opened in Iceland 16 years ago.

In July, McDonalds announced it would open 36 new Australian restaurants this year (up from the 21 it opened last year) bringing the total number of national outlets to 815.

Read more

Macquarie Rumoured to Be Leasing 19,500 Sqm at Canary Wharf, London

MACQUARIE Group has agreed to lease a 19,500 square metre London and European head office at Canary Wharf.

UK-based real estate website propertyweek.com said Macquarie will relocate to a new project at Drapers Garden, Canary Wharf, from CityPoint, in 2011.

Macquarie will join he likes of Citigroup, Credit Suisse and HSBC in the heavily focussed financial service precinct.

Read more
error: Content is protected !!