Mubasher: GFH Financial Group has launched a fully-owned subsidiary called GFH Partners Ltd in line with its expansion plans to scale up its global portfolio and real estate assets management, according to a press release.
The new entity is mainly focused on the real estate sector, where it currently handles more than $6 billion of real estate assets as part of the group’s assets valued at a total of $18 billion.
GFH Partners manages assets in key markets across the US, the UK, Saudi Arabia, and UAE, where it aims to attract and capitalise on strong economic growth prospects in these regions.
Nael Mustafa, CEO of GFH Partners, said: “With a proven track record of success, a well-seasoned team, and deep knowledge of our target markets, we are well-positioned to capture opportunities and deliver high-caliber asset management services and products that meet the needs of our investors.”
Mustafa added: “Leveraging our reach, regulatory and business set-up as well as the access provided by our partners on the ground, our aim is to continuously provide a strong pipeline of opportunities to our investors and look forward to accelerating our business and assets under management growth in the US, UK, KSA, and UAE.”
Earlier this month, Fitch Ratings maintained GFH’s ‘B’ long- and short-term issuer default ratings (IDR), with a stable outlook on the long-term IDR.
During the first three months (3M) of 2023, the group witnessed a 25.60% year-on-year (YoY) surge in net profit attributable to the owners to $24.01 million, compared to $19.12 million.
Besides trading on Abu Dhabi Securities Exchange (ADX), the financial group is cross-listed on Dubai Financial Market (DFM), Bahrain Bourse (BHB), and Boursa Kuwait.
