Bahrain's GFC formulates new business model
The Gulf Finance House of Bahrain said that it is hoping to receive more active investments to salvage the investment firm's falling figures. A new business model was proposed by the Bahraini investment company.
In an attempt to clean its balance sheet, the Gulf Finance House is banking on new investments to revive its collapsing fund. The Gulf Finance House was considered to be the Kingdom of Bahrain's symbol of economic growth.
The proposed business model consist of new strategy calls such as better involvement with the investments that the firm creates, and better decision making on projects which are in development. Previously, the GFC passed such projects to third party developers without considering to halt their completion, said the firm's acting chief executive Hisham Al Rayes.
"Because the market was hot everything was sellable, but now we are looking at fundamentals and more calculated risks," Rayes said.
"We have changed the model - instead of using sub-developers we are now going vertical in the development of our projects," he continued.