Reported 9 months ago
Saudi property developer Dar Global, the international arm of Dar Al Arkan Real Estate Development Company, aims to invest $300 million in luxury homes in New York, Miami, and Los Angeles. They are seeking partnerships with top real estate developers and plan to announce their first U.S. project by year-end. While open to raising debt for financing, Dar Global intends to invest in equity and targets selling at least half of the homes to non-U.S. buyers. Although they have partnered with the Trump Organization in Oman, they believe Trump and Kushner companies may not align with their international buyer focus for U.S. expansion.
Source: YAHOO