Saudi Arabia’s Dar Al Arkan has successfully listed international development subsidiary Dar Global on the London Stock Exchange.
The listing, valued at $600m (SR2.5bn) makes Dar Al Arkan one of the first Saudi homegrown brands to list on the London stock exchange.
Building on the legacy of Dar Al Arkan, the largest real estate company in Saudi Arabia, Dar Global has embarked on a journey to establish a highly differentiated international real estate business.
Saudi firm listed on London Stock Exchange
It will focus on developing projects comprising luxury second and vacation homes for its global clientele.
Dar Al Arkan is eyeing projects in Dubai, Qatar, Oman, and London, as well as the Costa del Sol region of Southern Spain.
While building a robust portfolio, the company also collaborates with global luxury brands, including Missoni, W Hotels, Versace, Elie Saab, Pagani, and Lamborghini.
Every Dar Global offering will be bold and sophisticated, modelled by renowned design icons, and maintained by experts within the field, boosting all things bespoke.
Along with an extensive pipeline, the company currently has eleven premium projects in six different countries, with three of its developments, including Urban Oasis, the Da Vinci Tower in Dubai, and Sidra in Bosnia, set to be completed in Q4 2023.
Yousef Al Shelash, Chairman, Dar Al Arkan, said: “This is an extremely proud moment for us. After pioneering a distinct approach to development in the Kingdom’s real estate sector, we believe it is time further to diversify the group’s offerings across international communities with Dar Global.
“London is the ideal venue as Dar Global looks to access a larger pool of investors and partners to support its expansion ambitions in the global luxury real estate landscape.
“We thank the Ministry of Investment in Saudi Arabia for facilitating and supporting our global expansion and assisting us in spreading the brand of Saudi Arabia globally.”
Dar Global was established in 2017 to upend the global luxury real estate market and develop the international assets of Dar Al Arkan Real Estate Development Company.
The company will be steered by a highly experienced international executive team led by industry stalwarts like Ziad El Chaar as the CEO and David Hunter as the Independent Non-Executive Chair of the board of directors.
Liberum Capital Limited acted as Capital Markets Adviser on the listing and Norton Rose Fulbright LLP acted as legal adviser on the listing.
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