Mubasher: GFH Financial Group has signed an agreement worth about £100 million ($142.8 million) with a subsidiary of Abu Dhabi Financial Group (ADFG) to own 30% of a project in central London developed by UK’s Northacre.
The Bahrain-based buyer will become a partner with 30% stake acquired from ADFG subsidiary Palace Revive Developments in the No 1 Palace Street project.
The development project is estimated to complete in the second half of 2018, according to a bourse statement.
The company clarified that the deal will reflect positively on GFH’s financial results for the first and second quarters in 2016.
