GFH Group’s chief executive, Hisham Al‑Rais, said the financial firm will expand its managed assets from over $24 billion to $50 billion by 2029, powered by growth and strategic acquisitions.
In a recent interview with CNN Business, Al‑Rais confirmed the bank intends to acquire an additional 20.6 % stake in Bahrain‑listed Al Saif Real Estate within the next two weeks, which would give GFH majority control and broaden its footprint in the regional property development market.
The move also complements GFH’s existing retail and commercial complex operations.
Al‑Rais added that the group expects to announce one or two more divestments before the end of 2026, after several investments have reached their target valuations.
He emphasized that geopolitical tensions have not dampened individual investor appetite, noting the firm recorded its strongest investment deployment rates in recent weeks.
GFH highlighted successful exits from overseas portfolios, particularly in the United States’ infrastructure and energy sectors, delivering returns exceeding three times the capital invested and returning over $250 million to clients, while earning performance fees of more than $20 million in the latest quarter.
Regarding a potential listing on Saudi Arabia’s Tadawul exchange, Al‑Rais said GFH has secured regulatory approval in Bahrain and is awaiting the right market conditions to maximise shareholder value and liquidity.
Financial results for the third quarter showed net profit rising 18 % year‑on‑year to about $40 million, despite a 5 % revenue dip attributed to higher financing costs amid regional geopolitical volatility and rising interest rates, offset by strong wealth‑management performance.
Source: https://akhbar-alkhaleej.com/news/article/1457534
