Saudi’s Dar Al Arkan weighs Morocco, European investments -chairman

December 15, 2017

DUBAI, Dec 12 (Reuters) – Important Saudi Arabian precise property company Dar Al Arkan is considering whether or not or to not put cash right into a housing enterprise in Morocco, its chairman Yousef al-Shelash suggested Reuters on Tuesday.

The company, which has a cash place of three billion riyals ($800 million), may also be shopping for a set income asset much like a resort or a residential or enterprise tower in European cities along with London, Frankfurt and Berlin subsequent 12 months, he said.

Shelash was speaking as the company launched it was launching its worldwide enterprise with an 800 million riyal ($218 million) enchancment in downtown Dubai. It will possibly start constructing in early 2018 of a 34-storey waterfront skyscraper with luxurious flats. (Reporting by Alex Cornwell; Writing by Tom Arnold; Enhancing by Andrew Torchia)