Dar Global, the global real estate development arm of Saudi-listed Dar Al Arkan Real Estate Development Company, plans to enter the  US real estate market and invest in key international cities this year.

The company aims to partner with top-tier developers to create luxury residences, targeting American and international buyers, the London Stock Exchange-listed developer said in a statement on Tuesday.

Dar Global launched 10 projects across Saudi Arabia, the UAE, Qatar, Oman, and Spain last year, with a combined value of more than £1.5 billion ($1.6 billion).  

The company recently partnered with the Trump Organization to launch the £420 million Trump Jeddah Tower, which is set to become one of the tallest high-rises in Jeddah.

Ziad El Chaar, CEO of Dar Global, said the 10 projects reflect the company's ability to anticipate and meet the evolving demands of global investors and strengthen its international footprint.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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