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. ”