Dar Global, a luxury development company that listed on the main market of the London Stock Exchange last March, has hired Rothschild to advise it on ways to grow in London and Saudia Arabia.
Dar Global was established to develop the international assets of major shareholder Dar Al Arkan Real Estate Development Company, teaming up with global luxury brands such as W Hotels, Missoni, Versace, Pagani and ELIE SAAB to product homes across the Middle East and Europe, including downtown Dubai, Oman in Muscat and the Costa del Sol region in Southern Spain.
While the London market remains a key focus, the company said in November 2023 it wanted to explore Saudi Arabia, to benefit from the growing international interest in the Kingdom.
In the near future, the company intends to expand its focus to hospitality assets. The aim is to acquire or build hotels and sell them after a period of three to five years of operation once the hotels or resorts’ revenue streams stabilise. Target markets include Spain, Dubai, Maldives, Athens, Marrakesh and London.
Dar Global added Dar Al Arkan would help it to make acquisitions and strike up JVs within the Saudi market. ‘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,’ it said.
Dar Global expects to publish its half yearly results up to 30 June 2024 on 26 September 2024.
