Bahrain’s GFH Financial Group acquired a majority stake in a UK-based property asset management company that is active in a number of countries in Europe.
This deal "will enable the group to more effectively expand its investment activities in the UK and European logistics real estate sector, a segment of the market showing solid fundamentals and prospects for growth",GFH said in a statement on Saturday.
Founded in 2009, by Hugh Macdonald-Brown and Nick Rhodes, Roebuck Asset Management has managed assets worth £1.4 billion ($1.89bn), covering over 15 million square feet of area, according to GFH. The firm’s primary focus has been on the acquisition and management of logistics assets, investing in over 85 properties in the UK to date and as well as in Spain, Belgium and the Czech Republic.
The demand for warehouses has been rising due to an uptick in e-commerce activity in the wake of the coronavirus pandemic. Bahrain-listed private equity and alternative asset manager Investcorp is also boosting its investment in the industrial warehouse sector.
“This is a strategic investment into a profitable platform with a proven track record and capabilities and broad institutional investor base providing GFH with a low risk approach to further expanding the European market,” Hisham Alrayes, chief executive of GFH, said. The company did not disclose the total investment in the deal.
Roebuck, which also manages assets on behalf of a diverse group of institutional investors and UHNWIs (ultra-high net worth individuals) from the UK, South Africa, India, South Korea, and Malaysia will continue to operate independently, according to GFH.
The deal will “unlock further exciting opportunities we are seeing in the UK and European logistics and business space sectors,” Mr Macdonald-Brown and Mr Rhodes, managing partners at Roebuck, said.
Earlier this month, GFH, acquired warehouses in Spain for $77 million. The properties are leased on a long-term basis to Amazon Road Transport, a subsidiary of global e-commerce firm Amazon. It also completed the acquisition of AMA International University-Bahrain for $100m.
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
Sanju
Produced: Vidhu Vinod Chopra, Rajkumar Hirani
Director: Rajkumar Hirani
Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani
Rating: 3.5 stars
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Racecard
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
The National selections
6.30pm: Chaddad
7.05pm: Down On Da Bayou
7.40pm: Mass Media
8.15pm: Rafal
8.50pm: Yulong Warrior
9.25pm: Chiefdom
Jebel Ali Dragons 26 Bahrain 23
Dragons
Tries: Hayes, Richards, Cooper
Cons: Love
Pens: Love 3
Bahrain
Tries: Kenny, Crombie, Tantoh
Cons: Phillips
Pens: Phillips 2
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
The years Ramadan fell in May
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Oppenheimer
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Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
