The Times newspaper has reported that Gulf Finance House, an investment bank based in Bahrain that specialises in real estate property development has announced that it is setting up a new office in London specifically with the aim of buying stakes in British property companies.
The Times says that BFH has hired Joe McGrane, managing director from Royal Bank of Scotland to lead the operation, which will be based in London's West End.
The news comes after a great deal of press speculation that HBOS PLC was getting ready to sell its stake in builder McCarthy & Stone.