Bahrain's Gulf Finance House (GFH) will buy a mall in the Saudi Arabian city of Jeddah for SR180 million ($48 million), the investment firm said on Sunday.

The investment will produce an average semi-annual cash return of 12 per cent and the same internal rate of return over the investment period, GFH said in a statement to Dubai's bourse.

The company did not state when a deal to acquire the Jeddah mall would be concluded. – Reuters