Leading regional investment bank EFG-Hermes said its private equity arm will invest $65 million into Gulf Housing Solutions Limited (GHS) as part of its expansion strategy for the Mena region.

GHS acquires, develops, sub-leases and manages staff accommodation facilities for the construction industry and the hospitality sector in the UAE.

EFG-Hermes Private Equity will be the largest shareholder in the company and will be actively supporting the company’s management in their expansion strategy in the UAE and other countries in the Gulf.

The company had recently boosted its leadership team in a move that is seen to expand its footprint across the Mena region.

“We are extremely pleased to partner with GHS in what we believe is a very attractive opportunity to capitalize on the record growth in the construction, real estate and hospitality sectors in the region,” said Walid Zein, managing partner at EFG-Hermes Private Equity.

Industry sources estimate the total value of announced regional construction projects will surpass $2 trillion over the coming years.

"We are delighted to welcome EFG-Hermes Private Equity as our largest investor and look forward to working with their team in continuing to deliver superior staff accommodation facilities in the UAE and across the GCC," Juan Fernando Valdivieso, GHS co-founder and CEO, said.  

"Partnering with one of the leading private equity firms in the region will help us accelerate our growth plans and meet our strategic objectives," he added.-TradeArabia News Service