Dar Global, an independent development subsidiary of Dar Al Arkan, the largest real estate company in Saudi Arabia, successfully listed on the London stock exchange with a value of SAR 2,250,000,000 ($600 million).
“It’s a big milestone for us to have a vehicle listed in London,” Dar Global CEO Ziad El Chaar told Arabian Business.
“It is mainly a vehicle for growth and will expose us to a much bigger market and much bigger transactions.”
The official direct listing on the London Stock Exchange makes Dar Al Arkan one of the first Saudi homegrown brands to list on the London stock exchange.
El Chaar said the funds raised from the listing would be used to promote further growth in the company, before adding that the company is “looking at further acquisitions, especially in the UK market.”
On why Dar Global chose London as its base of operations, El Chaar commented: “If you look back at the structure of the company, the company is designed to cater to international cities. And the biggest international market in Europe is London … This is why we set up our company in London.”
Dar Global was founded in 2017 to concentrate on the global luxury real estate market, with a special focus on the luxury second home and holiday home market.
“As a real estate developer, you thrive on finding opportunities that have been overlooked by other developers,” El Chaar said.
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.
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