Mubasher: GFH Financial Group has launched OUTLIVE in Cityscape, which will operate across the MENA region and Europe.
The innovative real estate developer is set to create mixed-use projects with a focus on health and well-being, according to a press release.
OUTLIVE leverages the combined expertise and capabilities of the GFH and its management team with proven expertise in development, design and conceptualisation of living communities. It will run business in Europe and the Mena region, particularly in the Saudi and UAE markets, where there is strong demand for such a focus and a need for communities that deliver well-being attributes in addition to physical appeal.
The venture focuses on six key wellness dimensions: social connection, environmental stewardship, physical health, emotional awareness, mental engagement, and spiritual wellness.
Hisham Al Rayes, Chairman of OUTLIVE and Group CEO of GFH, remarked: “This venture reflects our commitment to our region by creating unique and differentiated real estate offering.”
Walid El Hindi, Managing Director of OUTLIVE, commented: “While sustainability in real estate centres on creating buildings that care for the planet, wellness real estate focuses on crafting places that care for the people.”
In the first nine months (9M) of 2024, cross-listed GFH logged 11.44% higher net profits attributable to owners at $87.95 million, compared to $78.92 million in 9M-23.
