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General Mediterranean Holding SA (GMH) is an international holding company established by Iraqi-born investor Nadhmi Auchi and based in Luxembourg. Since its founding in 1979, GMH has expanded into many fields including banking and finance, hotel and leisure, aviation, industrial trading and pharmaceuticals, and real estate and construction. Today the group has over 100 companies in its worldwide international portfolio with assets in excess of US$4 billion.
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Achievements
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Listed below are some of the achievements of the GMH Group.
Egypt
- More than US$670 million participation in Egyptian companies.
- 51% participation in the Intercontinental Hotel Hurghada, Red Sea Coast of Egypt.
- 32% participation in the Hilton Sharm Dreams Hotel, Sharm El Sheikh.
- 38% participation in Sharm Dreams Holding for tourism and hotels.
- Acquisition of another 2 hotels for the value of US$87 million in Sharm El Sheikh.
Lebanon
- Completion of US$ 220 million Touristic Complex in Lebanon 2003.
- 80% participation in the Hilton Hotel (under construction) in the Solidere area in the heart of Beirut.
- Various other investments in real estate and shares in the order of US$170 million.
Jordan
- Participation in the following Jordanian Banks: Union Bank for Investment & Savings, Bank of Jordan, Jordan Kuwait Bank.
- Completion of US$300 million Le Royal Hotel & Complex in Jordan 2002.
- Majority pariticipation in the Dunes Club which is one the most prestigious Social Clubs in the area.
- Major Shareholder in King Abdullah’s Fund/Conference Centre Project on the Dead Sea for the value of US$112 million.
- Incorporation of the Horizon Investment & Development Group.
Syria
- Incorporation of the Horizon Investment & Development Group with a paid up capital of US$25 million for touristic and real estate investment.
Tunis
- Ownership of Le Royal Hammamet five star hotel complex, luxury residential village and club, convention centre and casino for the value of US$110 million.
Morocco
- Acquisition of Compagnie Rentistica in Tangier, together with El Minzah five star hotel and Hotel Villa de France, and other real estate projects in Morocco for the value of US$120 million.
France
- Real estate investments in excess of 300 million euros.
- Establishment of the Residéal Hotel chain.
- Acquisition of 3 hotels in Cannes, Antibes, and La Grande Motte.
Luxembourg
- General Mediterranean Holding S.A established in 1979.
- Incorporation of Cipaf in 1981, the financial arm of GMH with assets reaching 640 million euros.
- Real estate investments in Luxembourg well over 180 million euros.
- Strategic block investments to the value of US$ 100 million in Coniston, Paribaven, Japan, Pan African Investments and participation in NACO.
- Opening of Centre Financier, GMH Headquarters.
- Opening of Hotel Le Royal Luxembourg in 1984.
- Acquisition of Soludec – the premier construction company in Luxembourg and one of the best[citation needed] in the Benelux countries.
United Kingdom
- Establishment of Italgrade Ltd., a UK trading company.
- Establishment of UK real estate subsidiary, Tucan Investments Plc with more than US$200 million in assets.
- Acquisition of Crescent Pharmaceuticals with 200 generic licenses.
- Acquisition of pharmaceutical manufacturing and trading.
- Plans for the construction of a five star hotel and conference centre in London.
- Acquisition of Bliss Chemists.
- Media – ANB Arabic Satellite Channel, Middle East Online News Portal and i-vu Media Solutions.
Other
- Real Estate investments in Canada & USA valued at more than US$450 million.
- Acquisition of the Hotel Miguel Angel, one of the leading hotels in Madrid worth 150 million euros.
- Acquisition of nine Boeing 727-200-Advanced aircraft and 1 cargo plane.
- Acquisition of Cosmo Sports in Düsseldorf, Germany.
- Expansion of Soludec (The Luxembourg Construction Co) into the Middle and Far East.
- Acquisition of Bank Compagnie Nord(BCN) in Germany in 1997.
- An investment of 1000 megawatt power plant in India for US$950 million.
- Sugar refinery in Pakistan.
- 85 million euro participation in Weather Telecommunications Group in Italy.
- US$ 25 million investment in banking and real estate in Russia.
- Motor Racing – A1 Grand Prix Team Lebanon in 2005.
- Investing in Korad advertising and public relations company in South Korea.
Notable employees
Former Directors
- Keith Vaz, Labour Party politician
- David Steel, Liberal Democrat member of the UK House of Lords
- Norman Lamont, former Conservative MP
Anniversary
On the 20th anniversary of the founding of GMH, Nadhmi Auchi was presented with a painting of the Houses of Parliament signed by the Prime Minister, the leaders of the opposition parties and 130 ministers and members of parliament in recognition of his outstanding achievements within and outside the United Kingdom.
External links
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