Saudi based real estate group Dar Al Arkan enters the Chinese market by announcing the opening of its office in Beijing.
As per the Saudi newspaper Arab News, Dar Al Arkan said the Beijing office will help serve multiple functions to allow for joint ventures between the Saudi group and leading Chinese real estate developers for the Chinese and the Saudi market. This is to further increase and facilitate collaboration between the two countries and enhance investment and knowledge-sharing opportunities.
Dar Al Arkan looks to collaborate
The company appointed Guo Jiancheng as general manager for the Beijing office and to lead its operations in China. The office will primarily promote cooperation and partnerships within the real estate and technology sectors to exchange and implement global best practices in these respective industries.
“Over its 27-year history in Saudi Arabia Dar Al Arkan has pioneered a distinctive approach to development, introduced new technologies, and raised the benchmark for the real estate and technology sectors in the Kingdom,” said Jiancheng at the official opening of the branch.
He further elaborated on how the company’s expansion can be utilised to further advance China’s relationship with the Kingdom. “With this expertise and industry know-how, the company is well-positioned to take this knowledge and creativity to a global level and promote it as best practice. By entering into the Chinese market, Dar Al Arkan is also well positioned to enhance relations between the Kingdom and China across multiple fronts.”
By providing access to required information, permits, and more, the firm is hoping to support Chinese companies and investors’ entry into the Kingdom. It will also support Saudi based companies to explore expansion opportunities and gain entry into the Chinese market.
Future expansion plans
Starting in 2021, Dar Al Arkan has embarked on a global expansion drive starting with the announcement of its Sidra project in Bosnia last March, followed by the launch of two luxury co-branded towers in the UAE in collaboration with luxury fashion brand, Missoni, and hypercar manufacturer, Pagani Automobili, respectively.
The company also announced expansion into the Qatar and Oman markets through residential and commercial projects.
