RIYADH: Dar Al Arkan has become one of the first Saudi brands to list on the London Stock Exchange via its international arm Dar Global with a valuation of SR2.25 billion ($600 million).
Founded in 1994, Dar Al Arkan is one of the largest real estate companies in the Kingdom and has successfully admitted Dar Global to the Standard Segment of the Official List of the Financial Conduct Authority and to the main market of the London Stock Exchange.
Since its establishment in 2017, Dar Global has offered international real estate by focusing on developing projects across the Middle East and Europe including countries like Qatar, Oman, London, and Spain.
“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 to further diversify the group’s offerings across international communities with Dar Global,” Yousef Al-Shelash, Dar Al Arkan chairman, said in a statement.
The company also collaborates with global brands including Missoni, W Hotels, Versace, Elie Saab, Automobili Pagani and Automobili Lamborghini.
“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,” Al-Shelash added.
The company currently has 11 under-development projects in six different countries including Urban Oasis and the Da Vinci Tower in Dubai and Sidra in Bosnia which are set to be completed by the final quarter of 2023.
