Massive US$12.5 billion expansion embarked upon by Dar Global, featuring significant developments in Saudi Arabia.
In a bold move towards becoming a diversified investment powerhouse, luxury real estate developer Dar Global PLC has announced an expansion strategy worth approximately $12.5 billion. This growth plan features two mega-projects in Saudi Arabia, an expanded financing facility, and entry into financial services via the Dubai International Financial Centre (DIFC).
The company has secured a joint development agreement with Dar Al Arkan and completed strategic land acquisitions for two large-scale projects. In Riyadh, Dar Global will develop a $2.8 billion integrated scheme featuring high-end villas, lifestyle amenities, and a championship golf course, anchored by a $300 million land purchase. In Jeddah, the company will undertake a $1.95 billion mixed-use development, forming a new city landmark with potential for luxury villas, a golf course, and a high-end hotel. Together, these projects have a combined Gross Development Value (GDV) of nearly $4.8 billion and contribute significantly to raising Dar Global’s total GDV to approximately $12.5 billion, a 67% increase.
To support this expansion, Dar Global increased its Litmus financing facility from $275 million to $440 million, adding $165 million in fresh liquidity. This expanded financing was underwritten by a consortium of prominent regional banks, reflecting strong institutional confidence in the company’s growth trajectory.
In addition to its real estate ventures, Dar Global has strategically acquired a licensed financial services platform based in DIFC. This new division will operate independently, offering asset management, investment banking, and advisory services. The move is designed to diversify revenue streams beyond real estate, enhance the company's ability to attract international capital, and enable participation in larger-scale projects with reduced risk exposure.
Ziad El Chaar, CEO of Dar Global, described this phase as transforming Dar Global into a diversified investment powerhouse aligned with Saudi Arabia's Vision 2030 and Dubai’s ambitions as a global financial hub. Industry analysts agree, stating that Dar Global's combined push into Saudi mega-developments, enhanced funding capacity, and DIFC-based financial services marks one of the most significant growth phases in the company's history.
[1] Dar Global PLC Press Release [2] Gulf Business [3] Arab News [4] Khaleej Times
This expansion strategy aligns with Saudi Arabia's Vision 2030 and Dubai's ambition to be a global financial and business hub. The announcements by Dar Global come amid record investor interest in Gulf real estate. With these ambitious plans, Dar Global is not only developing mega-projects in Saudi Arabia but also expanding its financial services through the Dubai International Financial Centre (DIFC).
- Dar Global PLC's expansion strategy worth approximately $12.5 billion, featuring mega-projects in Saudi Arabia and entry into financial services via the Dubai International Financial Centre (DIFC), aligns with Saudi Arabia's Vision 2030 and Dubai's ambition to be a global financial and business hub.
- In addition to real estate development, the company has strategically acquired a financial services platform based in DIFC, offering asset management, investment banking, and advisory services to diversify revenue streams and attract international capital.
- Dar Global has secured a joint development agreement with Dar Al Arkan and completed strategic land acquisitions for two large-scale projects, one in Riyadh worth $2.8 billion and another in Jeddah valued at $1.95 billion.
- The financing for this expansion was underwritten by a consortium of prominent regional banks, adding $165 million in fresh liquidity to Dar Global's $275 million Litmus financing facility, bringing the total to $440 million.
- This growth phase, which includes mega-developments in Saudi Arabia, enhanced funding capacity, and DIFC-based financial services, marks one of the most significant growth phases in Dar Global's history, according to industry analysts.
- With these ambitious plans, Dar Global is not only investing in the Gulf real estate industry but also positioning itself as a diversified investment powerhouse, contributing to the growth of both Saudi Arabia and the global financial industry.
