Saudi developer Dar Al Arkan weighs listing Dubai business
Saudi Arabian real estate developer Dar Al Arkan Real Estate Development Company could soon list its Dubai property business on an international stock exchange.
The company said in a statement on the Saudi Tadawul exchange that it was considering several strategic and capital markets options with regards to its international property business in Dubai, which may include a listing.
The development comes at a time when the Tadawul-listed stock is up by more than 36% over the past three months.
Dar Al Arkan is currently building The W Residences Dubai – Downtown, which it is likely to complete by 2025.
A week ago, the company had launched its first 3D printed villa, which it said, was an attempt to support sustainable construction in Saudi Arabia. The 3D Construction Printed (3DCP) is a two-story, 9.9-metre-high villa in the kingdom in Shams Al Riyadh residential development.
A week earlier, it had begun sales at Les Vagues by Elie Saab, in Qetaifan Island North, Qatar, one of the most premium locations in the wealthy emirate, with views of the sea and the marina.
Les Vagues by ELIE SAAB is valued at 1 billion Qatari Riyal and includes one, two, and three-bedroom apartments with terraces offering uninterrupted views of the sea, the marina, and the Doha skyline.
