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Bahrain real estate firm 'posts profit despite global downturn'
10 Mar 2010
Sharia-compliant firm Tadhamon Capital has announced gains of $28.6 million in the 15 months from September 2008 to the end of 2009.
Chairman Abdulgabbar Hayel Saeed said trading conditions had been difficult and expressed his delight at the performance.
"The company has achieved outstanding results due to its ability to source superior investments for its clients, who have vested their deep faith in our abilities," he announced.
Of the $34 million turnover for the period, around $30.3 million was raised through transaction arrangement and portfolio management for clients, while $3.7 million came from direct property investments.
This week, Bahrain's Gulf Finance House announced plans to invest in excess of $300 million setting up a new operation in Syria.
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