Reuters
Major Saudi Arabian real estate firm Dar Al Arkan is considering whether to invest in a housing project in Morocco, its chairman Yousef al-Shelash told Reuters on Tuesday.
The company, which has a cash position of 3 billion riyals ($800 million), is also looking at acquiring a fixed income asset such as a hotel or a residential or business tower in European cities including London, Frankfurt and Berlin next year, he said.
Shelash was speaking as the company announced it was launching its international business with an 800 million riyal ($218 million) development in downtown Dubai. It will start construction in early 2018 of a 34-storey waterfront skyscraper with luxury apartments.
(Reporting by Alex Cornwell; Writing by Tom Arnold; Editing by Andrew Torchia)
