DUBAI: GFH Financial Group would like to announce thatit has acquired 80% alongside the stake of a strategic partner of Hidd Mall.
The 46,000 m2 mall, located in the fast-growing area of Hidd in Muharraq, is fully leased to Lulu Hypermarkets, the largest retail chain in the Middle East and one of the largest chains in Asia region under a long term lease.
The mall currently boasts 100% occupancy, with Lulu Hypermarkets sub-leasing the space to a diverse range of multinational, regional and local tenants.
GFH currently has $12 billion asset and fund under management across a range of industries and sectors globally. In addition to Hidd Mall, the Group’s retail investment includes Events Mall in Jeddah and the Entertainer, the leader in loyalty and rewards solutions.
This investment is expected to reflect positively on the Group’s financials and increase the returns for the Group.