UAE's Dar Global to enter US property market after partnering with Trump Organization
Dar Global has agreed to a string of real estate deals with the Trump Organization, the company founded and owned by US President-elect Donald Trump.
Dar Global, a Dubai-based company partnering with the Trump Organization on real estate projects, said on Tuesday that it plans to enter the US and Greek real estate markets this year, where it will invest in "key international cities."
The UAE-based firm, the real estate development arm of Saudi-listed Dar Al Arkan Real Estate Development Company, announced the plans in a statement. Dar Al Arkan has around $7.5 billion in projects under development in Oman, Qatar, Spain, Saudi Arabia, the United Arab Emirates and the United Kingdom.
Dar Global, which is listed on the London Stock Exchange, said in the statement that it looks to work with top developers to create luxury residences in the US and Greece that will be available for both local and international buyers. No details were given on where the residences would be based.
The property developer launched 10 projects last year across Saudi Arabia, the UAE, Qatar, Oman and Spain, with a total value of more than £1.5 billion ($1.6 billion).
