GFH buys 30% stake in London’s No 1 Palace Street

31/03/2016 07:05 AST

GFH Financial Group has paid £100 million (Dh528.7m) to acquire 30 per cent of No 1 Palace Street in London’s Victoria.

The Bahrain-based investment company said it has signed a deal with Palace Revive Developments Limited for the site which is being redeveloped by Northacre.

A company controlled by Abu Dhabi Financial Group (ADFG) owns 68.84 per cent of Northacre, the developer of the exclusive site that is located next to Buckingham Palace.

The property includes 72 “super luxury" apartments, GFH said in a bourse filing. ADFG said in 2014 that it expected penthouses at No 1 Palace Street to fetch as much as £60m when they eventually go on sale.

“Victoria is going through a lot of changes, and what I think will be a major change will be the emergence of the first super-luxury development, which is No 1 Palace Street," ADFG chief executive Jassim Alseddiqi told The National in a 2015 interview.

Earlier, the group also acquired New Scotland Yard, home to the London Metropolitan Police since the 1960s, for £370m from the Mayor’s Office for Policing and Crime. The 600,000 sq ft site is being redeveloped into a mixed-use project.


The National

News

GFH approves $85m dividend distribution

28/03/2018

GFH Financial Group (GFH) today announced that its shareholders have approved the distribution of 8.72 per cent cash dividends totalling $85 million.

The approval came at the conclusion

Trade Arabia

GFH exits Dubai school investment

26/03/2018

GFH Financial Group has announced that its 100 per cent owned subsidiary GFH Capital Limited has agreed to sell its 70 per cent stake in the Dubai-based Philadelphia Private School (PPS), which it ac

Trade Arabia

GFH joins as a founding partner in Bahrain’s fintech hub

05/03/2018

GFH Financial Group said on Sunday its recent partnership with Bahrain Fintech Bay (BFB) as a founding partner of a fintech hub in the Middle East and Africa (Mena) region will drive innovation and c

Gulf News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

GFH Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
ABC 0.30 -0.01 (-1.64%)
INVCORP 8.95 0.00 (0.00%)
BARKA 0.35 0.00 (0.00%)
ITHMR 0.11 -0.01 (-4.55%)
TAIB 2.74 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap