Manama-headquartered GFH Financial Group has increased its stake in Seef Properties to nearly 30%, reinforcing its ownership in one of the major players in Bahrain’s real estate sector.

The investment firm confirmed on Tuesday that it has acquired additional 15.63% of shares in the real estate development and commercial centre management company, bringing its total shareholding to 27.98%.

Last year, GFH acquired a little over 12% stake in Seef Properties.

“This step aims to create additional value for our shareholders within the real estate portfolios operating in the same sector,” said Hisham Alrayes, CEO and Board Member of GFH.

Managing more than $22.48 billion in assets and funds, the company is listed on four stock exchanges, including the Bahrain Bourse, Boursa Kuwait, Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com