EFG-Hermes Buys Into UAE Developer

September 2008 | M&A News Alert

It's not only Saudi Arabia's real estate sector that is attracting attention, Egypt's EFG-Hermes announced on September 16 that it bought a stake in the UAE's Gulf Housing Solutions (GHS). The private equity arm of EFG-Hermes, a leading regional investment bank, has bought a US$65mn stake in the housing developer, making it the largest shareholder in the company. GHS acquires, develops and manages staff accommodation facilities for the construction industry and hospitality sector.

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