Dar Global to explore new projects in Saudi Arabia, London after Trump Tower in Dubai
Developer signs Rothschild & Co. to explore feasibility for new London, Saudi launches
Dubai: The luxury focused property developer Dar Global has signed up Rothschild & Co. to study possibilities for new projects in London and Saudi Arabia.
Dar Global, which is listed on FTSE, has multiple branded projects in UAE and other Gulf markets, and recently confirmed plans to build a Trump Tower in Dubai. It already has a Trump branded golf and residential community development in Oman.
It already has a project in London, the Mulliner, located on the corner of upscale Old Park Lane and Piccadilly and overlooking Green Park.
As for its plans for Saudi Arabia, the developer had spoken about creating curated luxury projects in the Kingdom. Incidentally, it is closely affiliated with Dar Al Arkan, one of the biggest names in Saudi Arabia's real estate space.
Listed on the Saudi Tadawul since 2007, Dar Al Arkan has delivered over 15,000 residential units with total assets of $8.5 billion.
For the new Saudi launch plans, "Dar Global will be assisted by its major shareholder Dar Al Arkan in acquisitions and joint ventures," said a statement.
"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."
According to Ziaad El Chaar, CEO of Dar Global, "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."