Dubai – Mubasher: GFH Financial Group is planning to increase its assets under management (AUM) to AED 110.19 billion ($30 billion) by 2020 through organic and non-organic growth.

The Dubai-, Bahrain-, and Kuwait-listed company confirmed receiving an offer to give away all of its real estate portfolio, according to a bourse statement released on Sunday.

On 3 May, GFH Financial Group’s chairman Jassim Alseddiqi told Al Khaleej newspaper that his company is studying an offer to exit its real estate business entirely, adding that such deal will have a positive impact on the group.

The offer is under consideration and will be subject to the decision of the board and the regulatory authorities’ approvals, GFH revealed.

The Manama-based firm hired Gulf International Bank (GIB) to “establish communication with Saudi Tadawul for intention to cross-list its shares in KSA market subject to the approvals of the Central Bank of Bahrain (CBB) and Saudi Arabia’s Capital Market Authority (CMA).”