Dar Al Arkan says Dar Global eyes Saudi market expansion

Logo of Dar Al Arkan Real Estate Development Co.

Dar Alarkan Real Estate Development Co. said the board of its London Stock Exchange-listed global development arm, Dar Global, announced plans to enter the Saudi market about a year ago.

In a Tadawul statement, the developer said Dar Global appointed Rothschild & Co as an advisor to explore opportunities and offer guidance. The contract involves assisting Dar Global in acquisitions and joint ventures in the Saudi market, which are in line with relevant laws and regulations.

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Dar Global's board sees Saudi Arabia as a key market for sustainable growth. The strategic plan includes exploring new projects, acquisitions, and joint ventures as main expansion strategies in the Saudi market, aligning with its international growth goals.

Dar Global announced the contract today, Aug. 21, as part of its commitment to transparency.

During the current quarter, Dar Al Arkan’s board does not expect any financial obligations related to Dar Global's potential transactions.

Any updates, such as acquisition or other arrangements, will be announced once deals between the parties involved are finalised.