reports
- Martyn King
Dar Global - £200m Aston Martin branded residence unveiled
Dar Global’s latest luxury branded residential project, its first with Aston Martin, fits well with its strategy and follows its other recent announcements including its initiative in the Maldives with Dolce & Gabbana and its geographical expansion into Saudi Arabia. We anticipate that Dar Global will generate a return on equity in the mid-to-high teens across its portfolio in the medium term and, thus, we continue to value the company on a multiple of shareholders’ funds basis at c US$930m (US$...
- Martyn King
Dar Global - Demand underpins high-end branded offering
DAR first full-year results post flotation showed impressive growth driven by a range of positive factors, which bodes well for 2024 and beyond. So far it has sold 72% of launched volume, which highlights the attractions of its locations, developments and brand partners. We anticipate that Dar Global will generate a return on equity in the mid-to-high teens in the medium term and therefore we continue to value the company on a multiple of shareholders’ funds basis at c US$930m (US$5.17/share), i...
- Martyn King
Dar Global - Initial FY23 results exceed revised guidance
Dar Global’s FY23 results showed impressive growth driven by a range of positive factors, which bodes well for 2024 and beyond. Dar Global is in the early stages of delivering over 5,700 residences in the Middle East and Europe and is now looking further afield to markets such as the US for opportunity. We anticipate that it will generate a return on equity in the high teens and we value the company on a multiple of shareholders’ funds basis at c US$930m (US$5.17/share), implying c 40% upside.
- Martyn King
Dar Global - 2023 revenue and profit surprise
Dar Global’s FY23 trading update points to materially better revenue and profit expectations than previously anticipated due to a range of positive factors. This is a bright end to the company’s first year as a listed entity and points to a positive outlook for 2024 and beyond. Dar Global is in the early stages of delivering over 5,700 residences in the Middle East and Europe and retains an ambition to expand the portfolio beyond the Kingdom of Saudi Arabia and to develop a hospitality portfolio...
- Martyn King
Dar Global - Geographical expansion into Saudi Arabia
Dar Global’s expansion into the Kingdom of Saudi Arabia (KSA) is, in our view, an attractive and low risk move, entirely in keeping with the company’s ambition to roll out its ‘capital-light’ business model to attractive new locations. Dar Global is in the early stages of delivering over 5,700 residences in the Middle East and Europe and retains an ambition to expand the portfolio beyond KSA and to develop a hospitality portfolio. We anticipate that Dar Global will generate a return on equity in...
Edison issues initiation on Dar Global (DAR): More luxury brand retail...
Edison Investment Research Limited Edison issues initiation on Dar Global (DAR): More luxury brand retailer than housebuilder 02-Nov-2023 / 15:39 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 2 November 2023 Edison issues initiation on Dar Global (DAR): More luxury brand retailer than housebuilder Dar Global is a developer of premium-priced luxury branded residences, led by a management team with a track record of successful long-term delivery. It employs a ‘capital-light’ business model that reduces risk and allows for rapid s...
- Martyn King
Dar Global - More luxury brand retailer than housebuilder
Dar Global is a developer of premium-priced luxury branded residences, led by a management team with a track record of successful long-term delivery. It employs a ‘capital-light’ business model that reduces risk and allows for rapid scalability. It is in the early stages of delivering over 5,700 residences in the Middle East and Europe, with an ambition to expand the portfolio in number and geography. It also intends to develop a hospitality portfolio. We anticipate that Dar Global will generate...
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