Bahrain’s Gulf Finance House (GFH) has acquired a commercial property in Gatwick, England from British firm BAA Lynton. The £41.7 million ($64.5 million) purchase was carried out in full compliance with Islamic economic practices.
The transaction was executed by GFH’s subsidiary Gulf Atlantic Real Estate (Gare). The firm purchased the One City Place, a 140,000 square foot commercial office building located in Gatwick Business Park. The complex has been leased to British Telecommunications for £22.5 per square foot.
GFH has a paid-up capital of $65 million and an authorized capital of $150 million. Shareholders include Dubai Islamic Bank, Abu Dhabi Islamic Bank, Kuwait-based Gulf Investment House, Kuwait Finance House, Qatar Islamic Bank, Jeddah-based Islamic Development Bank and Saudi Economic Development Co. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
