Dar Global raring to go after listing on London Stock Exchange

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Updated 14 March 2023
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Dar Global raring to go after listing on London Stock Exchange

  • Saudi real estate developer Dar Al Arkan’s global arm looks to access new capital and build its growth visibility

RIYADH: Saudi real estate developer Dar Al Arkan has achieved great success over the years, but getting its global arm listed on the London Stock Exchange with a valuation of SR2.25 billion ($600 million) was certainly a milestone event, Dar Global’s CEO told Arab News in an interview.

“The listing had a lot of firsts,” Ziad El Chaar said, reflecting on Dar Global’s posting on Feb. 28. “We were the first IPO (initial price offering) this year on the London Stock Exchange and we are also the first Saudi company to be listed on the main market of the London Stock Exchange.”

“We are proud that Dar Al Arkan grew a company like Dar Global and listed it on the London Stock Exchange because Dar Global is not just another real estate company,” he went on to explain. “It is a very special kind of a real estate company for a new breed of customers called global citizens who live in more than one country, who work in more than one country.”

Since its establishment in 2017, Dar Global has offered interna- tional real estate by focusing on developing projects across the Middle East and Europe, including in countries like the UAE, Qatar, Oman, the UK and Spain.

The company also collaborates with global brands including Missoni, W Hotels, Versace, Elie Saab, Automobili Pagani and Automobili Lamborghini.

Asked why the company chose the London Stock Exchange to make its international listing, El Chaar replied: “For a company specializing in supplying real estate to global citizens, the biggest global hub is London ... Also listing on the London Stock Exchange brings us a vehicle that is accepted by the whole globe to trade with, to partner with and to deal with.”

Growth plans

The UK capital was the obvious listing location for the business as Dar Global looks to access new capital and build its growth visibility with development and luxury brand partners.

The listing is also set to drive forward Dar Global’s ambitious growth trajectory as the company is now exposed to a much bigger market and much bigger transactions.

HIGHLIGHT

Since its establishment in 2017, Dar Global has offered international real estate by focusing on developing projects across the Middle East and Europe, including in countries like the UAE, Qatar, Oman, the UK and Spain.

“The reason we wanted to float this company on an internation- ally accepted stock exchange and create this vehicle is mainly for growth because when you leave your home country in real estate, you need to have alliances, partnerships and joint ventures because you don’t have the market expertise like the local players,” explained El Chaar.

“Now that Dar Global is listed on the London Stock Exchange, everybody would be comfortable in having discussions with the  company and eventually enter into deals.”

He added: “We go to developers and landlords and seek partnership with them on co-development of projects where we would bring in the expertise of sales, marketing, funding, international distribution, value engineering, and they would bring in their local expertise in devel- opment, permits, local regula- tion and we team up together to develop projects.”

The company, which has a pipeline of projects in countries where it currently operates in like Spain, UK and the UAE, is also aiming to enter new countries like Greece and Morocco.

“We need to go to the hubs that have global citizens because we don’t go to a company outside our home country to compete on first homes,” he said.

“International developers are not designed to satisfy first-homes demand because they don’t have this local expertise,” El Chaar explained. “So we go to the hubs where you have international buyers.”




Dar Global is in no hurry to jump into new countries as their priority is to consolidate their position in countries that they already have a presence in. (Supplied)

While at it, he also pointed out that in many of the locations where Dar Global developed big master plans they are adding a hospitality element to enhance the value of that project.

El Chaar, however, is clear that Dar Global is in no hurry to jump into new countries as their priority is to consolidate their position in countries that they already have a presence in.

Way forward 

Talking about the finan- cial position of the company, the CEO said Dar Global had accumulated approximately $5 billion of gross development value in projects in all locations till the date of going public.

“However, we’ve so far sold around $700 million of these $5 billion,” he informed.

“The advantage for most of the shareholders is the fact that the recognition of this sale will happen in 2023, 2024 and 2025 because you know in real estate you sell but you cannot recognize the profits till you build,” he added. “Because construction is underway, most of our shareholders, the new shareholders, will see these profits happening in the next two to three years of the sales that have been done before.”

Furthermore, El Chaar explained, “We have a very conservative cash flow policy in which we only commit to projects that do not strain the cash flow of the company.

“We develop in areas where you can always have funding for that project, which is a combina- tion of the equity of the company, the funding of the banks and the collection from customers.”

With regard to the company’s strategy, El Chaar said: “We’ve decided from day one that we want to have a product that tackles the affluent taste. Most of our projects are co-branded projects. Also, most of our projects are presenting the limited edition of real estate in every city. Take Pagani in Dubai, for example. Those are the only 85 apartments in the world branded by Pagani.”

He went on to cite the example of W Residences. “We have exclu- sivity in that area that no one else can do those W Residences,” El Chaar informed. “People these days like to buy the limited edition because as we always see, it gives you a very good return on investment and a very good return on ego.”

So, what’s next for Dar Global? “By 2032, we want to be among the top 50 developers in the world,” El Chaar concluded. At the rate the company is going, that might not be a pipe dream.”


From barrels to bytes: How AI is powering Saudi Arabia’s industrial transformation

Updated 08 January 2026
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From barrels to bytes: How AI is powering Saudi Arabia’s industrial transformation

  • Inside the Kingdom’s drive to merge energy expertise with digital intelligence

RIYADH: Artificial intelligence is moving beyond concept to become a cornerstone of Saudi Arabia’s energy sector, reshaping how oil, gas, and power systems are managed and optimized.

Industry giants like Saudi Aramco are embedding smart systems into their operations to boost efficiency, reliability, and sustainability—key pillars in the Kingdom’s efforts to modernize its industrial base and diversify its economy.

According to the International Energy Agency, oil and gas companies were among the first to adopt digital technologies. The agency estimates that applying AI to power plant operations and maintenance could save up to $110 billion annually by 2035 through reduced fuel consumption and maintenance costs.

For Saudi Arabia, this technological momentum offers both a blueprint and an opportunity. Under Vision 2030, integrating data and intelligent automation is transforming how energy is explored, refined, and delivered.

At the heart of Saudi Aramco’s operations is a digital transformation strategy centered on artificial intelligence, big data, and the industrial Internet of Things. These technologies are applied at every stage of production—from mapping reservoirs and optimizing drilling to improving efficiency and safety.

AI also underpins Aramco’s Digital Transformation Program, which develops in-house smart tools and data-driven platforms designed to cut emissions, reduce costs, and enhance performance while ensuring a reliable energy supply.

A prime example is the Upstream Innovation Center, where engineers have implemented AI solutions that reduce fuel gas use in boilers, improve efficiency, and detect potential leaks through fiber-optic monitoring. At the Khurais oil field, more than 40,000 sensors monitor approximately 500 wells via an Advanced Process Control system—the first of its kind for a conventional oil field at Aramco. Digitization at Khurais has increased production by around 15 percent, doubled troubleshooting speed, and lowered both costs and environmental impact.

These advances illustrate how Aramco’s network is evolving into a connected, adaptive model, blending traditional engineering expertise with digital intelligence.

DID YOU KNOW?

• AI could save up to $110 billion a year in global power plant fuel and maintenance costs by 2035.

• Advanced Process Control enables real-time monitoring of hundreds of oil wells in the Kingdom.

• AI-powered simulations now replace weeks of manual analysis, enabling faster operational decisions.

As Saudi Arabia develops an AI-driven energy economy, the King Abdullah University of Science and Technology is bridging the gap between digital innovation and industrial application. 

Bernard Ghanem, chair of the Center of Excellence for Generative AI, said the university is working with Saudi Aramco to develop AI systems that predict the chemical properties of materials and accelerate research into direct air capture technologies for carbon dioxide removal.

He told Arab News that KAUST is partnering with SABIC and ACWA Power to apply AI in process optimization and materials discovery, turning lab-scale research into practical solutions for the energy sector.

Ghanem said KAUST’s generative AI materials program combines a robotic chemistry lab with its AI Chemist foundation model, a system that accelerates the development of catalysts, battery materials, and membranes for clean energy applications.

“This is our lab of the future, automating experimentation and speeding up energy innovation,” he said.

Opinion

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Mani Sarathy, professor of chemical engineering at KAUST, noted that AI-based reinforcement learning tools are already improving efficiency in hydrocarbon refineries by enhancing simulations and shortening analysis cycles.

“AI is helping energy companies run complex simulations that once took weeks, enabling faster and more precise operational decisions,” he told Arab News.

Sarathy added that the next phase will combine automation with expert oversight. Hybrid human-AI control systems, he explained, are likely to become standard in critical operations, balancing digital autonomy with safety and reliability as Saudi industries expand AI deployment.

These efforts highlight KAUST’s growing role in transforming AI from an academic discipline into a driver of industrial innovation in Saudi Arabia’s energy sector under Vision 2030.

Meanwhile, Skeleton Technologies is bringing AI-driven energy storage solutions to Saudi partners, solutions that are already reshaping industrial systems across Europe and beyond. In Europe, the company combines artificial intelligence and advanced materials to reduce energy use and improve efficiency in data centers, electricity grids, and defense systems.

“Our solutions allow AI infrastructure to consume less electricity and reduce grid connection needs, making AI operations more energy efficient,” Arnaud Castaignet, vice president of government affairs and strategic partnerships at Skeleton, told Arab News.

Inside its factories, Skeleton uses AI-driven digital twin models, created with Siemens Digital Industries, to simulate production, optimize operations, and enable predictive maintenance, Castaignet said. At the core of its technology is curved graphene, a proprietary carbon material that gives Skeleton’s supercapacitors exceptional conductivity.

“It allows our supercapacitors to charge and discharge within microseconds, around 12 microseconds, something batteries cannot do,” Castaignet said.

The company’s flagship Graphene GPU system, built on these supercapacitors, cuts energy use in AI data centers by up to 40 percent and reduces grid requirements by 45 percent while boosting computing performance. The devices are free of lithium, nickel, and cobalt, relying instead on graphene derived from silicon carbide—essentially sand—processed entirely in Germany.

“To build sustainable AI infrastructure, you need energy-saving hardware as well as renewable power,” Castaignet added. “Our Graphene GPU shows both can work together.”

As Saudi Arabia continues linking engineering expertise with digital intelligence, its industrial progress is measured not only in barrels of oil but also in bytes, data, and the smart systems shaping its energy future.