Rothschild & Co. has been enlisted by luxury real estate developer Dar Global to investigate potential for new projects in London and Saudi Arabia.
The FTSE-listed Dar Global has several well-known projects in the United Arab Emirates and other Gulf markets. It also recently announced that it will be constructing a Trump Tower in Dubai. In Oman, there is already a golf course and residential community development bearing the Trump name.
It already has a project in London called the Mulliner, which is situated with a view of Green Park at the intersection of posh Old Park Lane and Piccadilly.
Regarding its intentions for Saudi Arabia, the developer had mentioned developing carefully planned luxury projects there. It is, incidentally, closely associated with Dar Al Arkan, one of the most prominent names in Saudi real estate.
Since its 2007 listing on the Saudi Tadawul, Dar Al Arkan has delivered more than 15,000 residential units, totaling $8.5 billion in assets.
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.”