RIYADH: The London-listed luxury real estate developer, Dar Global, has increased its gross development value by 67 percent to $12.5 billion, driven by new large-scale projects in Saudi Arabia and a move into financial services.
Dar Global, majority-owned by Saudi developer Dar Al-Arkan and listed on the London Stock Exchange, announced it secured a joint development agreement with its parent company and completed major land acquisitions for projects in Riyadh and Jeddah, significantly expanding its footprint in the Kingdom.
In Riyadh, the company acquired part of a major integrated scheme worth $2.8 billion, anchored by a $300 million land purchase, replacing a previously announced deal in March. The decision aimed to deliver greater scale, higher profitability, and lower development risk.
In Jeddah, the firm signed another joint development agreement for a landmark mixed-use project on one of the city’s most prominent sites, with an estimated GDV of $1.95 billion.
Both projects will feature luxury villas, a world-class golf course, and a high-end hotel, tapping into Saudi Arabia’s rapid economic transformation and growing demand for premium real estate.
