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FINANCIAL NEWS
Bahrain-GFH leaves USD55mn Promoseven real estate portfolio
29 Jun 2017
(MENAFN) GFH, a financial group in the GCC region proclaimed that it has inked a deal with Promoseven Holdings in Bahrain in order to exit parts of its real estate portfolio with USD55mn value.
Moreover, a pioneering business group, Promoseven Holdings has interests in real estate, public relations, advertising, hospitality, investment and leisure.
In addition, the firm also owns majority stakes in Middle East Communication Networks based in Manama.
The asset has a book value of USD20mn and the agreement is projected to have a positive impact on its fiscal results for the second quarter of the year.
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MENAFN2906201700450000ID1095584672
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