IPE reported that the London-listed firm Dar Global purchased 243 fully developed plots in Jeddah for €85.17 million from a local Saudi landowner, with the project expected to yield a gross development value (GDV) of €183.16 million.
Additionally, Dar Global invested €272.99 million in Riyadh, acquiring 190 plots from its parent company, Dar Al Arkan Real Estate Company, with an anticipated GDV of €732.64 million.
The company has structured the acquisitions using cash generated from scheme sales, Dar Global shares, or a combination of both.
Dar Global CEO, Ziad El Chaar, highlighted the company’s strategic vision behind the investment: “Dar Global’s proven success in similar transactions, including collaborations with landowners, government entities, and world-renowned luxury and hospitality brands, has established the company as a leader in developing bespoke, high-end living and investment opportunities to affluent, globally mobile customers.”
Mr El Chaar further emphasised that these acquisitions solidify Dar Global’s position as a key player in Saudi Arabia’s evolving real estate market, reinforcing its commitment to securing high-value opportunities in strategic locations across the Kingdom.
With Saudi Arabia’s real estate sector rapidly expanding, driven by Vision 2030’s urban development goals, this move positions Dar Global at the forefront of luxury residential and investment opportunities in the region.
