Based on its revised strategy, GFH has over the last 18 months invested in projects which provide steady cash yields for its investors. In line with this, Diversified US Residential Portfolio (DURP) an investment in multi-family US residential assets distributed dividends of $1.3m on to its investors. The portfolio consists of two multi-family residential properties, one based in Houston and the other based in Atlanta. The properties together comprise nearly 1,300 apartments and have an overall occupancy of 94%. The GFH Group has also distributed semiannual dividends of $1m for the year 2014- 2015 for Philadelphia Private School (PPS) based in Dubai- UAE. The estimated worth of the school is AED140m which provides excellent education for a growing base of students with a capacity of up to 1,900 students.
Focusing on the industrial sector, Cemena Investment Company has distributed dividends of $7.9m. Cemena owns Falcon Cement Company’s (FCC) which is Bahrain’s first integrated cement plant and Aluminum Extrusion Company (“Balexco”).
Furthermore, during the last three years GFH has been able to return part of Mumbai Economic Development Zone’s (MEDZ) Project capital, which sums to $43m, which was returned over several payments ending with the recent distribution of $28m. MEDZ is GFH’s flagship project in India and is comprised of two core components – the Energy City Navi Mumbai (ECNM) and Mumbai IT & Telecom City (MITTIC) projects covering nearly 1,300 acres of prime development land at Navi Mumbai in the Indian state of Maharashtra. The group signed partnership agreements with the most reputable developers for developing parts of the project in India.
Hisham Alrayes, Chief Executive Officer of the Group, said, “With these cash distributions we were able to fulfil our promise to our investors which confirms the flexibility and the efficiency of the Group’s strategy. During the year we have also invested in an operating mall in Jeddah and another British curriculum school in Dubai, dividends for which will flow to investors from next year. We will continue to look for promising investment opportunities which are expected to provide the Group and our co-investors with high cash yields and double digit total returns.”
Introducing an essential new addition to MEA Market’s roster of awards, the inaugural Middle East CEO of the Year Awards 2023!Visit our awards here
MEA Markets is proud to announce the return of the MEA Business Awards 2023, which stands as a testament to the remarkable achievements of businesses spanning the Middle East and Africa region! This prestigious awards programme returns for its seventh year and aims to recognize and laud outstanding performers across a spectrum of industries, encompassing finance, technology, energy, healthcare, and more. Through this platform, excellence, innovation, and exemplary leadership are brought to the forefront.Visit our awards here
MEA Markets is excited to announce that we are set to host the UAE Business Awards for an eighth consecutive year! The 2024 programme will look to recognise the top performing companies across the various key sectors that make up the UAE’s diverse and evolving industry market.Visit our awards here