{"id":37104,"date":"2016-12-05T22:14:03","date_gmt":"2016-12-05T15:14:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=37104"},"modified":"2016-12-05T19:38:31","modified_gmt":"2016-12-05T12:38:31","slug":"gfh-to-inject-cash-in-stalled-bahrain-development","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-to-inject-cash-in-stalled-bahrain-development\/","title":{"rendered":"GFH to inject cash in stalled Bahrain development"},"content":{"rendered":"


\nGFH Financial Group (GFH) has completed a debt-restructuring agreement with the developer of a long-delayed US$700 million project in Bahrain.In a statement to the Dubai stock exchange on Monday, GFH said it had signed a final sukuk-restructuring agreement with Bahrain-based Gulf Holding Company (GHC), the developer of the Villamar project close to the Bahrain Financial Harbour complex and Al Rajhi Bank, the project’s original financier.GFH said that under the new agreement it would fund the completion of the 35,900-square-metre upmarket housing and hotel project by injecting cash up to $50m.In August GHC said it was restarting work on the stalled project after it agreed a restructuring deal with support from Al Rajhi Bank, new funder GFH and the contractor, UAE-based Al Hamad Contracting.The project comprises three twisting towers of 54, 52 and 43 storeys, which are to contain a hotel and apartments.As a result of the agreement, GHC said cranes had been moved back on to the site to restart work and the project is now due for completion in the summer of 2018.Villamar was initially launched in 2007, when GHC awarded a $380m construction contract to Sharjah-based Al Hamad Contracting.Initially it was due for completion in the first quarter of 2010, but stopped midway through construction as the financial crisis caused projects to stall across the Arabian Gulf.However, in February, Bahrain’s government announced that it had passed a law aimed at restarting many of the kingdom’s major stalled property projects, and in July the deputy premier, Sheikh Khalid Al Khalifa, who also heads Bahrain’s ministerial committee on reconstruction and infrastructure, held a meeting aimed at advancing Villamar’s future.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…GFH to inject cash in stalled Bahrain development<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

GFH Financial Group (GFH) has completed a debt-restructuring agreement with the developer of a long-delayed...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-37104","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9Es","jetpack-related-posts":[{"id":25209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-turns-to-reits-for-bahrain-and-dubai-projects\/","url_meta":{"origin":37104,"position":0},"title":"GFH turns to Reits for Bahrain and Dubai projects","date":"September 6, 2016","format":false,"excerpt":"\r The property arm of GFH Financial Group is considering using real estate investment trusts (Reits) to pump funds into its projects in Bahrain and Dubai, as the Islamic investment group forays into the emirate's property sector for the first time.The Bahrain-listed firm, which launched its property division this year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9452,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-buys-30-stake-in-londons-no-1-palace-street\/","url_meta":{"origin":37104,"position":1},"title":"GFH buys 30% stake in London's No 1 Palace Street","date":"March 30, 2016","format":false,"excerpt":"\r \r GFH Financial Group has paid \u00c2\u00a3100 million (Dh528.7m) to acquire 30 per cent of No 1 Palace Street in London's Victoria.The Bahrain-based investment company said it has signed a deal with Palace Revive Developments Limited for the site which is being redeveloped by Northacre.A company controlled by Abu\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17258,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-launches-specialist-property-division\/","url_meta":{"origin":37104,"position":2},"title":"GFH launches specialist property division","date":"June 21, 2016","format":false,"excerpt":"\r GFH Financial Group confirmed yesterday that it is planning to launch a specialist real estate division to develop a number of its projects in Dubai and its home base of Bahrain.The Bahrain-listed investment group said that the division, GFH Real Estate, would have initial assets of US$40 million and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16272,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-acquires-midwestern-property-portfolio-in-third-us-purchase\/","url_meta":{"origin":37104,"position":3},"title":"GFH acquires Midwestern property portfolio in third US purchase","date":"June 12, 2016","format":false,"excerpt":"\r GFH has announced its third US real estate acquisition of the past 18 months, with the purchase of a portfolio of Midwestern distribution, warehousing and industrial properties for about US$65 million, the Bahrain investment company said on Sunday.GFH has forecast that the deal, which it expects to be reflected\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84007,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bahrains-gfh-to-hand-out-85m-in-cash-dividends\/","url_meta":{"origin":37104,"position":4},"title":"Bahrain's GFH to hand out $85m in cash dividends","date":"March 27, 2018","format":false,"excerpt":"\r Shareholders also approve 2017 financial results which include net profit of $104m\r \r Source : arabianbusiness.com\r Read more...Bahrain's GFH to hand out m in cash dividends","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":154699,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gfh-capital-al-tijaria-announce-logistics-partnership-focused-across-gcc-region\/","url_meta":{"origin":37104,"position":5},"title":"GFH Capital, Al Tijaria announce logistics partnership focused across GCC region","date":"May 28, 2025","format":false,"excerpt":"\r Under the agreement, Al Tijaria will act as a technical advisor for one of GFH Capital\u2019s logistics funds\r \r Source : arabianbusiness.com\r Read more...GFH Capital, Al Tijaria announce logistics partnership focused across GCC region","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/05\/GFH-Capital-Partners-With-Al-Tijaria-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/37104"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=37104"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/37104\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=37104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=37104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=37104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}