Mubasher: GFH Financial Group will spin out its infrastructure and real estate assets under the recently-launched company Infracorp to boost the growth of sustainable and environmental infrastructure assets across the Gulf and global markets.
The company will have a portfolio of around $3 billion of infrastructure assets, according to a press release on Monday.
Meanwhile, the company will mainly invest in developing communities, logistics and technologies that support sustainability and renewables, and social infrastructure assets across the education and healthcare sectors.
The CEO of GFH, Hisham Alrayes, said: "The launch of Infracorp has been in response to the significant need and opportunity for private sector investment in the development of sustainable infrastructure as global economies transition to becoming more equitable and socially and environmentally conscious."
Meanwhile, Alrayes added: "Furthermore, spinning out infrastructure assets from GFH will allow the Group to focus more on financials assets, while allowing Infracorp to manage and deliver returns from infrastructure and real estate assets which have a longer investment cycle than banking activities."