Bahrain's Gulf Finance House signs pacts with Adani Infra, Wadhwa Group

Gulf Finance House, a Bahrain-based Islamic investment bank, has signed two development agreements with Adani Infrastructure and Mumbai-based developer Wadhwa Group for real estate development in India.

Gulf Finance House (GFH) is one of the largest private sector investors from Bahrain into India. The flagship investment of GFH in India is the Energy City and Mumbai IT & Telecom City in New Mumbai.

The project is to be carried out on an area of 1,200 acres. The agreements were signed on the sidelines of the Bahrain-India Business Forum in Mumbai, held as part of King Hamad bin Isa Al Khalifa's visit to India.

According to the first agreement, GFH and Wadhwa have agreed to the appointment of Hafeez Contractor, India's largest architect firm to be the master planner for the Phase 1 of the India Project, with an expected end-sale value of $4 billion.

The second agreement was with Adani Infrastructure & Developers, a company owned by Adani Group, according to which GFH and Adani Infrastructure & Developers intend to work together to explore development opportunities in relation to various infrastructure and real estate projects in India.