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Sun 3 May 2015 10:08 AM

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Bahrain's GFH says to buy mall in Saudi Arabia

Gulf Finance House to pay around $48m for the JEddah mall

Bahrain's GFH says to buy mall in Saudi Arabia
Hisham Alrayes\nGFH Group CEO.

Bahrain's Gulf Finance House (GFH) will buy a mall in the Saudi Arabian city of Jeddah for 180 million riyals ($48 million), the investment firm said on Sunday.

The investment will produce an average semi-annual cash return of 12 percent 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.

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