Gulf Holding Company Acquires Leading Real Estate Solutions Provider ASK Ventures Holding

Gulf Holding Company Acquires Leading Real Estate Solutions Provider ASK Ventures Holding

Kuwait, xx September 2021 – Gulf Holding Company K.S.C (‘GHC’), a leading real estate advisory and development company with iconic projects in the GCC and North Africa, today announced that it has acquired a majority stake in Bahrain-based real estate solutions company ASK Ventures Holding.

The acquisition of ASK will significantly expand the scope of GHC’s activities and regional footprint, taking it to the next level. This includes adding to its already impressive offering specialised property management, facilities management, valuation and real estate advisory services for a which a sizable gap still remains in the market.

As part of the transaction, GHC also takes a majority stake in BrykApp, which is owned and was developed in-house by ASK. BrykApp is a leading digital real estate platform that leverages state-of- the-art technology to deliver a host of real estate support services to a diverse group of players across the real estate value chain including landlords, tenants and service providers.

Commenting on the acquisition, Majid AlKhan, CEO of GHC, said, “We’re delighted to announce this strategic acquisition of ASK Ventures Holding, which both complements GHC’s offering of real estate development and advisory services and enables us to further expand our reach and activities through the addition of new capabilities. Importantly, the transaction also sees us add a strong digital component to the business through BrykApp, a technology platform and provider that enables us to access and deliver services and value to other segments of the real estate market we would otherwise be unable to tap. This is an important milestone in our growth strategy and our efforts to continuously expand into further areas of the regional real estate services market, where we see significant
opportunities to achieve growth and build even greater market share. ”

Gulf Holding Company Invests in Bahrain’s New ‘District 1’ Commercial Center

Gulf Holding Company Invests in Bahrain’s New ‘District 1’ Commercial Center

Bahrain, XX December 2020 – Gulf Holding Company K.S.C (‘GHC’) announced today that it has invested in ‘District 1’, a commercial strip located on Janabiyah overlooking Shaikh Isa Bin Salman Highway, through the acquisition of property within the development. District 1, a high-end commercial development, is strategically located as one of the first commercial destinations at the Bahrain border upon entry from the King Fahd Causeway.

The District 1 project, distinguished by its unique architecture and design, provides high-end retail and restaurant outlets appealing to a broad range of visitors and demographics, and delivers an innovative commercial style compatible with today’s contemporary lifestyle.

Known for its high occupancy rates, which have exceeded 90%, the leading project entails tenants with commercial, leisure and entertainment offerings by Bahraini entrepreneurs. Some of its long-term tenants include advertising firms, interior design companies, pharmacies as well as selections of high-end restaurants and cafes.

Commenting on the acquisition, Majid AlKhan, Chief Executive Officer of Gulf Holding Company, said: “GHC’s acquisition of this project reaffirms our commitment to offering premium properties in Bahrain and our belief in the importance of these projects as they continually support developing the country’s infrastructure as part of our sustainable development goals. We are proud to work with both District 1 developers and other large developers across our portfolio continue as they continue to place their trust in GHC. Our priority now is to continue on the momentum we’ve achieved and continue to deliver on our promises to our shareholders.”

In turn, Salah Nooruddin, Owner and Developer of District 1, stated: “The partnership between District 1 and GHC allows us to combine our respective strengths to bring high-end developments to Bahrain. We now aim to continue our priority and efforts to provide high-end units for long-term lease, delivering on our promise of tenant satisfaction. The second phase of the project is planned to commence in the near future and will include a vast range of advanced facilities.”

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Gulf Holding Company is a premier real estate investment and development company with a portfolio of real estate assets and leading regional companies that manage some of the most prestigious projects in the MENA region.


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