GFH spins out infrastructure investments into “Infracorp"

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group yesterday announced the spinning out of its infrastructure and real estate assets under the newly established “Infracorp” capitalised with more than US$1 billion in infrastructure and developed assets into the company.

The new company will specialise in investments focusing on accelerating growth and development of sustainable infrastructure assets and environments across the Gulf and global markets.

The company will be managing a portfolio of near US$3 billion of infrastructure assets, including landbank in the Gulf, North Africa and South Asia of approximately 250 million square feet earmarked for sustainable economic and social infrastructure.

Specifically, the company focuses on investments in developing communities and investing in logistics and technologies that support sustainability and renewables as well as social infrastructure assets across the education and healthcare sectors.

Commenting, CEO of GFH, Hisham Alrayes, said, “The launch of Infracorp has been in response to the significant need and opportunity for private sector investment in the development of sustainable infrastructure as global economies transition to becoming more equitable and socially and environmentally conscious.”

Alrayes continued, “Furthermore, spinning out infrastructure assets from GFH will allow the Group to focus more on financials assets while allowing Infracorp to manage and deliver returns from infrastructure and real estate assets which have a longer investment cycle than banking activities.”

“We will also look to list Infracorp on GCC exchange over the next 24 months and issue Green Sukuk, creating even greater value and providing a unique opportunity for investors.”