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- Dar Global will be assisted by major stakeholder Dar Al Arkan in facilitating acquisitions and joint ventures in the Saudi market
- Dar Global previously announced its plans to expand into Saudi Arabia, in November 2023
Dar Global, the London-listed luxury international real estate developer, is pleased to announce the appointment of Rothschild & Co, the leading global independent financial advisor, to explore further growth opportunities in the London and Saudi Arabia markets. The move is part of Dar Global’s strategic plan to expand its presence in the two markets.
While the London market remains a key focus area for Dar Global, the company announced in November 2023 its intention to explore opportunities to expand into Saudi Arabia, to benefit from the growing international interest in the Kingdom. Dar Global will be assisted by its major shareholder Dar Al Arkan in Acquisitions and Joint Ventures within the Saudi market. Dar Global has enjoyed significant prior success in similar transactions across its portfolios, partnering with landowners, government organizations and some of the world’s leading luxury and hospitality brands to deliver high-end, bespoke investment opportunities to affluent and internationally mobile customers.
Ziad El Chaar, CEO of Dar Global, said: "Our partnerships are key to our success and our deep-rooted commitment to delivering high-end bespoke investment opportunities for our clients will stand us in good stead as we forge ahead. We look forward to further enhancing our presence in the key London market even as we work alongside our major shareholder Dar Al Arkan to consolidate our acquisitions and joint ventures in the Saudi market. We are pleased to be working with the Rothschild & Co team on advancing our ambitions as we reinforce our brand presence in the region.”
Dar Global expects to publish its half yearly results up to 30 June 2024, on 26 September 2024.
About Dar Global:
Dar Global PLC is a highly differentiated international real estate business. It focuses predominantly on developing real estate projects comprising second homes for internationally mobile customers, in some of the most desirable locations across the Gulf Cooperation Council (GCC) and Europe, including downtown Dubai, Muscat in Oman, and the Costa del Sol region in the South of Spain.
Dar Global was originally established to house and develop the international (non-Kingdom of Saudi Arabia based) assets of Dar Al Arkan Real Estate Development PJSC (“DAARE”), a leading real estate developer in the Kingdom of Saudi Arabia. Listed on the Saudi Stock Exchange since 2007, Dar Al Arkan has delivered over 15,000 residential units with total assets of c. US$8.5 billion.
In the near future, the Group intends to expand its focus to hospitality assets. The aim is to acquire or build hotels and sell them after a period of three to five years of operation once the hotels or resorts’ revenue streams stabilise. Target markets include Spain, Dubai, Maldives, Athens, Marrakesh and London.
Dar Global was admitted to the Main Market of the London Stock Exchange on 28 February 2023.
Please visit www.DarGlobal.co.uk
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Mai Elsayed | Reem AlTajer
