Bahrain’s GFH says to buy mall in Saudi Arabia

Dubai: Bahrain’s Gulf Finance House (GFH) will buy a mall in the Saudi Arabian city of Jeddah for 180 million riyals (Dh176 million, $48 million), the investment firm said on Sunday. The investment will produce an average semi-annual cash return of 12 per cent and the same internal rate of return over the investment period, GFH said in a statement to Dubai’s bourse. The company did not state when a deal to acquire the Jeddah mall would be concluded.