Riyadh: Saudi Arabian real estate company Dar Al Arkan announced the successful listing of its international arm Dar Global PLC on the London Stock Exchange, on Thursday.
The unit was granted admission to “the Standard Segment of the Official List of the FCA and to the Main Market of the London Stock Exchange” at a valuation of 2.25 billion Saudi riyals, the company said in a statement.
This makes Dar Al Arkan one of the first Saudi homegrown brands to list on the London bourse.
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.”