DarGlobal’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. Edison Group 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, continues to value the company on a multiple of shareholders’ funds basis at c US$930m (US$5.17 per share), implying c 40% upside. Edison’s forecasts are unchanged but believe this new project implies that risks are to the upside.
19 June 2024
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