The GFH Financial Group in Bahrain has acquired a majority stake in Roebuck Asset Management, which specializes in managing logistical real estate assets and commercial spaces in Britain and Europe.
According to Arabia Net, Roebuck is managing assets with a total investment value of nearly $ 1.9 billion, covering a floor area of more than 15 million square feet.
Waddah Al-Taha, a member of the advisory board at the DIFC Institute, said that the disclosure method is different from the usual for this acquisition.
In an interview with Al Arabiya, Al-Taha said that it is usual for GFH Financial Group to go with its partners in the acquisition process, and to disclose the details of the transaction, its duration, its return and the amount of the stake. .
On the UAE markets, Al-Taha said that the most important catalyst is if the date of the Expo in Dubai remains on schedule, in addition to relying on internal investors.
and expect that with the continued decline in real estate prices due to the large gap between supply and demand, this decline may stimulate a new demand for real estate.
On the matter of Emirati banks, Al-Taha explained that the most challenging period was the past months of the current year, explaining that this was reflected in the increase in allocations for doubtful debts. / p>
He said that the profits of banks listed on the Dubai Financial Market declined by 53%, while the profits of banks listed on the Abu Dhabi Financial Market decreased by 30%.
