Egyptian businessman Mohamed Al-Fayed has officially handed over the world-famous Harrods department store to the Qatari government, after selling the store two weeks ago.
Al-Fayed owned the department store for more than a quarter of a century. His wax statue will remain on the first floor.
Al-Fayed handed over management of the store to Khalifa el-Kawari, representative of the royal family’s Qatar Holding Company, which purchased the store for £1.5 billion. The hand-over celebration was attended by dozens of famous figures.
The contract signed with the Qatari company states that a penalty of £3 billion should be paid if the new owners remove the wax statue of Al-Fayed. The contract also states that Al-Fayed will remain as the honorary manager of the store.
One of the store workers said that Al-Fayed used to tour the store three or four times a week, however, he has only come once since becoming honorary manager.
Translated from the Arabic Edition.
