GFH signs sukuk restructuring deal with Gulf Holding

Abu Dhabi: GFH Financial Group announced it has, as the project sponsor, signed a final sukuk restructuring agreement with Gulf Holding Company, the project’s real estate development firm, and Al Rajhi Bank as the project financier.

The agreement allows for rescheduling of the Villamar project’s finances, and officially marks the relaunch of the project located in the Bahrain Financial Harbour.

As per the agreement, GFH will participate in financing completion of the project with an amount up to $50 million (Dh183.65 million).