Bahrain-listed investment company GFH Financial Group has announced its plans of launching a specialist real estate division, GFH Real Estate, to develop its various projects in Dubai and Bahrain.

The company said its division would manage those projects in Bahrain and Dubai which the company had previously invested in. The new division would also have initial assets of $40 million at its disposal.

The projects under consideration include Dubai California Village in the UAE and the Harbour Row and Harbour North schemes in Bahrain.

The fact that more development companies are restarting their stalled projects in Dubai is a clear sign of recovery and immense potential of emirate’s real estate market.

The company has already started work on the $150m Harbour Row project and intends to launch the remaining phases of residential areas in Bahrain Financial Harbour project before the end of this year. Pe4r reports, these would be a series of low-rise apartment blocks with commercial units at the ground level.

The enthusiastic development activity currently taking place across Bahrain is inspired by the kingdom plans of developing the non-oil sectors to drive growth further.

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