GFH forges real estate links in India

Updated 04 March 2014
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GFH forges real estate links in India

Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, has announced the signing of two development agreements for real estate development in India.
The agreements were signed on the sidelines of the Bahrain-India Business Forum in Mumbai, held as part of King Hamad bin Isa Al Khalifa's landmark visit to India.
GFH is one of the largest private sector investors from Bahrain into India. The flagship investment of GFH in India is the Energy City and Mumbai IT & Telecom City (India Project) developments in New Mumbai. The project is carried out on an area of 1,200 acres of land.
The first agreement was signed with Wadhwa Group, one of the leading real estate developers in Mumbai for over four decades and one of the largest holders of commercial assets in Bandra Kurla Complex (BKC), the commercial hub of Mumbai. According to this agreement, GFH and Wadhwa have agreed to the appointment of Hafeez Contractor, claimed to be India's largest architect firm, to be the master planner for the Phase 1 of the India Project, with an expected end sale value of $4 billion.
The second agreement was signed with Adani Infrastructure & Developers, a company owned by Adani Group, a top 10 Indian corporate business house, which is also described as the largest port operator and the largest private sector power producer in India. According to the agreement, GFH and Adani Infrastructure & Developers intend to work together to explore development opportunities in relation to various infrastructure and real estate projects in India. Adani Infrastructure & Developers will be partnering with Asiastar City Holdings to develop the Phase 2 of GFH's India Project.
Hisham Alrayes, CEO of GFH, said: "We're delighted to sign these agreements with two of India's leading business groups. They go some way toward furthering our efforts to move forward with our development strategy and plans for India and our landmark project there."


Bahri strengthens market footprint in Asia-Pacific region

Khalid Al-Garawi, senior manager, Bahri Chemicals.
Updated 21 April 2019
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Bahri strengthens market footprint in Asia-Pacific region

Saudi logistics and transportation company Bahri has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry. The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region.
The announcement took place at a ceremony held on April 5 at Regent Hotel in Singapore, in the presence of Abdullah Aldubaikhi, CEO of Bahri, and senior executives of the region’s oil majors, petrochemical trading companies and ship brokers.
The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.
Bahri CEO Aldubaikhi said: “In our efforts to deliver on Bahri’s vision of connecting economies, sharing prosperity, and driving excellence in global logistics services, we have been actively pursuing the company’s ambitious long-term strategy to drive sustainable growth and expand its market footprint. As a result, we have established a solid presence regionally and globally. Our expansion in the Asia-Pacific region represents a key milestone in our journey, and with this, we have come even closer to our customers, allowing us to serve them better offering a wider range of industry services and unprecedented value.”
Over the past 41 years, Bahri has steadily expanded market presence to cement its position as a global leader in the maritime industry. The company currently has offices in Saudi Arabia, UAE, US and India, in addition to a vast network of agents across the Middle East and Africa, US, Europe, and Asia.
Bahri Chemicals is the largest owner and operator of chemical carriers in the Middle East, serving 150 ports worldwide. It owns and operates 36 chemical/product tankers with a capacity of 1.1 million DWT designed to the highest specifications, capable of carrying a wide range of chemical cargoes. The first business unit within Bahri, Bahri Logistics, is one of the top 10 breakbulk carriers in the world and operates six new state-of-the-art multipurpose vessels with 26,000 DWT each on a regular liner schedule.