Dar Al Arkan lists Dar global on London stock exchange for USD600M valuation
Date
3/12/2023 8:57:48 AM
(MENAFN) In a recent interview with Arab News, Dar Global's CEO, Ziad El Chaar, reflected on the success of the Saudi real estate developer, Dar Al Arkan, and the milestone event of listing its global arm on the London Stock Exchange with a valuation of SR2.25 billion (USD600 million). According to El Chaar, the listing was significant as it marked many firsts, including being the first initial price offering (IPO) of the year on the London Stock Exchange and the first Saudi company to be listed on the main market of the exchange.
El Chaar further explained that Dar Global is not just any real estate company, but a unique kind of real estate company that caters to a new breed of customers known as global citizens. These individuals live and work in multiple countries and have specific real estate needs that Dar Global aims to meet. Since its establishment in 2017, Dar Global has focused on developing international real estate projects across the Middle East and Europe, with a presence in countries like the United Arab Emirates, Qatar, Oman, the United Kingdom, and Spain.
Moreover, the company collaborates with well-known global brands such as Missoni, W Hotels, Versace, Elie Saab, Automobili Pagani, and Automobili Lamborghini. The successful listing of Dar Global on the London Stock Exchange is a testament to the company's growth and its ability to cater to the needs of a new type of clientele in the global real estate market.
MENAFN12032023000045014146ID1105756440
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.