DarGlobal’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. Edison Group anticipates that it will generate a return on equity in the high teens and they value the company on a multiple of shareholders’ funds basis at c US$930m (US$5.17/share), implying c 40% upside.
1 March 2024
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