Bahrain-based GFH Financial Group has established a new-fangled with an investment of up to AED 1 billion (USD 0.27 billion), as per a disclosure on Monday.
The new organization, Infracorp, will achieve a portfolio of infrastructure assets and developments treasured at approximately USD 3 billion, the Islamic investment bank stated to the Dubai Financial Market (DFM).
The assets to be accomplished are inclusive of a ‘land bank’ in North Africa, the Gulf, and South Asia, with 250 million square feet dedicated for sustainable social and economic infrastructure.
The dedicated firm’s investments will be prioritising emerging communities, logistics, and technologies that underpin sustainability and renewables, alongside social infrastructure assets throughout the healthcare and education sectors.
The monetary exchange is estimated to cement GFH’s financial stand and is in response to the crucial necessity and prospect for private sector investment in the sustainable infrastructure space, according to Hisham Alrayes, CEO of GFH Financial Group.
Alrayes stated that unparalleled levels of investments are required to both develop and upgrade sustainable foundations.
Infrastructure assets from GFH Financial Group are spinning out and will allow the conglomerate to concentrate more on monetary assets, whilst allowing Infracorp to accomplish and distribute returns from real estate and infrastructure assets which have a broader investment cycle than banking endeavours, Alrayes indicated.
In November 2021, the firm reported a comprehensive profit of USD 23.3 million for the Q3 of 2021, surging by 187.3% from the USD 8.1 million profit in Q3 of 2020.
About GFH Financial Group
GFH Financial Group BSC (GFH) is a pioneering and versatile financial firm in the GCC region, with a dynamic offering and leading track record. Headquartered in Bahrain’s Financial Harbour, the firm is listed on 3 stock exchanges in the Gulf region, inclusive of the Boursa Kuwait, Bahrain Boursa, and Dubai Financial Market (DFM), where the firm is one of the most liquid and vigorously traded stocks.