Saudi “Dar Global” to invest $300 million to expand in America

Dar Global Saudi Real Estate Development Company, the international arm of Dar Al Arkan Saudi Arabia, intends to invest $300 million in New York, Miami and Los Angeles in the coming months, as it searches for partners to develop luxury homes.

Ziad Al-Shaar, CEO of Dar Global, said that the London-listed company is looking forward to announcing its latest projects in the United States before the end of the year, according to Al Arabiya.

He stated that they are currently focusing on completing the first project in the United States before the end of the year. He added, “Dar Global is ready to issue debt inside and outside the United States to help finance its projects in the country, and that its investments, which will amount to $300 million, will be in the form of shares.”

Al-Shaar explained that Dar Global, which is the international arm of the Saudi Dar Al-Arkan Real Estate Development Company, hopes to sell at least half of the homes in its projects in the United States to non-American buyers.