Friday 19 July 2019
 
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Hisham Alrayes and Aymen Tawfiq Al Moayyed

GFH launches sporting events unit

MANAMA, 25 days ago

GFH Financial Group (GFH) today announced the launch of “XLR8”, a new umbrella identity under which the group will consolidate and grow its sponsorships and activities aimed at supporting and promoting the development of sporting initiatives and events in Bahrain.
 
It will develop such initiatives both in cooperation with partners and through the creation of new sporting concepts and events, a statement said.
 
“XLR8” has also been created to help position GFH’s investment projects as destinations for sports tourism that will bring regional and international athletes and sports enthusiasts to Bahrain, it said.
 
GFH has long been a key supporter of numerous national sporting events in the kingdom, which is focused, as part of Vision 2030, to encourage further development of sport as an integral part of creating a healthy and sustainable environment supporting the kingdom’s social and economic plans for growth.
 
GFH each year supports important national sporting events such as the King’s Cup Endurance Race, the Bahrain Formula 1 Grand Prix and the Bahrain National Sports Day, among others. 
 
To kick off the launch of “XLR8”, the new entity’s first event will soon be announced for later in the year and will be aimed to encourage individuals of all ages to embrace sports and lead healthier lifestyles, it said. 
 
Minister of Youth and Sports Affairs Aymen Tawfiq Al Moayyed said: “We applaud such initiatives from the private sector that align with the kingdom’s efforts to further elevate the role and contributions of sport to the social and economic development of Bahrain and our citizens. We are keen to allocate funds for sports, and we look forward to seeing others in the private sector follow GFH’s approach, which we welcome and encourage their initiative. We wish GFH and XLR8 success in their mission of developing new sporting initiatives and events and continuing to support the many existing regional and international events that have long put Bahrain on the global sporting stage.” 
 
Hisham Alrayes, CEO of GFH, added: “We’re delighted to announce the launch of XLR8, an in-house initiative that we’ve established with the aim to ramp up the group’s already strong efforts and commitment to supporting and promoting the development of sport in the Kingdom and our own unique lifestyle developments throughout Bahrain as world-class sports tourism venues that will help attract visitors and athletes from around the world to the kingdom. 
 
"Bahrain is already home to numerous dynamic events across the sporting spectrum, many of which have long been supported by GFH. Under the umbrella of XLR8, we are redoubling our efforts and will further step up our investments both through sponsorships and also through the creation of unique new events that promote an enhanced lifestyle and healthy competition benefiting the local population and also drawing visitors and investment into the kingdom and its economy,” he added. - TradeArabia News Service



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