Qatar Holding, which owns central London's famous Harrods department store in the UK, has announced new plans to launch a Harrods-branded chain of luxury hotels.

The company, which is an indirect subsidiary of Qatar Investment Authority, purchased the business from Egyptian businessman Mohamed Al-Fayed in 2010.

In a statement, a spokesperson said that the company will look to establish properties in key cities and regions around the world, with London and Kuala Lumpur identified as the first two cities to host a Harrods Hotel.

The statement reads: "As part of a long-term strategy to develop the Harrods brand Qatar Holding is to expand The Harrods Group portfolio by opening Harrods-branded hotels, in London as well as other prime locations around the world.

"The target plan is to open Harrods hotels at sites in key cities such as Kuala Lumpur, New York and Paris, as well as in China. Preference will be given to construct on sites already owned by Qatar Holding or its affiliates, for example at Chelsea Barracks in London or Costa Smeralda in Sardinia."

A memorandum of understanding (MOU) has already been signed with Malaysian property development company Jerantas Sdn Bhd with the view of studying the potential development of a Harrods Hotel in Bukit Bintang, Kuala Lumpur.

To read more, click here to see the full statement.