Bahrain’s GFH makes headway with India housing venture

Bahrain’s GFH Financial Group is starting to make headway with its plans to develop real estate in India. Its first township — the Wadhwa Wise City — has been unveiled at Panvel in the western Indian state of Maharashtra. Pre-launch sales have been rated solid, with GFH confirming more than 900 units finding buyers. The development — with phase one having up to 5,500 units — represents a joint venture between GFH’s India subsidiary, Valuable Properties, and Wadhwa Group. The plan is to build up 138 acres part of the first phase. GFH had been angling for an India exposure since before the 2008 financial crisis.