RCS - Dar Global PLC - 2024 Development Update

Dar GlobalAnnouncement

08/01/2025 07:00

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RNS Number : 4497S  Dar Global PLC  08 January 2025

 For immediate release  8 January 2025

 RNS Reach

 

Dar Global plc

('Dar Global', the 'Company' or the 'Group')

 

2024 Development Update

 

'Dar Global launches over US$1.9 billion in global luxury real estate projects
in 2024

and sets sights on expansion into the US in 2025'

 

Recording a milestone year, Dar Global, the London-listed luxury real estate
developer, is pleased to announce that it unveiled ten landmark projects in
2024, spanning Saudi Arabia, the UAE, Qatar, Oman, and Spain, with a combined
value exceeding US$1.9 billion. These unique developments not only strengthen
Dar Global's position as a leader in redefining the global luxury real estate
landscape but also presents projects that have high investment potential.

 

Dar Global's latest launches highlight its continued partnership with the
Trump Organization, including the Trump Jeddah Tower (US$530 million), which
is set to become one of Jeddah's tallest landmarks with luxury apartments and
an exclusive members-only club. In Riyadh's area next to Expo 2030, Neptune by
Mouawad (US$230 million) offers 200 premium villas. In the UAE, The Astera
(US$238 million) features Aston Martin-designed interiors on Al Marjan Island,
including the exclusive Sky Villa (US$11 million) part of its exclusive 1 of 1
portfolio. In Spain, Marea Interiors by Missoni (US$108 million) introduces a
gated community in Finca Cortesin, blending luxury living with Missoni's
iconic design.

 

Qatar's The Weekend 2 by Elie Saab (US$75 million), located on Qetifan Island
North, blends luxury living with premier recreational amenities. In Oman, the
portfolio includes The Great Escape 2 (US$70 million), a residential complex
in Aida, Muscat, as well as the Marriott Residences (US$100 million),
exclusive beachfront properties in Aida, and the Trump International Hotel
& Trump Cliff Villas (US$495 million), a premium mixed-use development
spanning 3.5 million square meters. Additionally, the Trump Golf Villas (US$40
million), perched 130 meters above the Muscat Riviera, offer spectacular views
and luxury living.

 

Ziad El Chaar, CEO of Dar Global, said: "Last year's launches highlight our
unwavering commitment to delivering world-class luxury properties in some of
the most sought-after destinations. These projects reflect our ability to
anticipate and meet the evolving demands of global investors, offering
unmatched lifestyle and investment opportunities. As we look ahead, we are
focused on further strengthening our global footprint."

 

Building on its momentum, Dar Global is gearing up for US expansion, with
plans to invest in key international cities. The Company aims to partner with
top-tier developers to create luxury residences, targeting both US and
international buyers.

 

Since the Company's establishment in 2017 and further listing on the London
Stock Exchange in 2023, Dar Global continues to redefine luxury real estate
with a track record of delivering high-quality projects across nine markets,
and a portfolio that seamlessly blends innovative design, strategic
partnerships, and unparalleled luxury across key global destinations. With a
globally affluent clientele from over 100 nationalities, Dar Global remains a
trusted name for exceptional investment and lifestyle opportunities.

 

- Ends -

 

For further enquiries, please contact:

 

 Dar Global plc  IR@darglobal.co.uk (mailto:IR@darglobal.co.uk)

 

 Burson Buchanan (Financial Communications)  Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Simon Compton       darglobal@buchanancomms.co.uk (mailto:darglobal@buchanancomms.co.uk)

                                             www.bursonbuchanan.com (http://www.bursonbuchanan.com)

 

Notes to editors:

 

Dar Global PLC is a highly differentiated international real estate business.
It focuses predominantly on developing real estate projects comprising second
homes for internationally mobile customers, in some of the most desirable
locations across the Middle East and Europe, including Jeddah and Riyadh in
Saudi Arabia, downtown Dubai, Muscat in Oman, London and the Costa del Sol
region in the South of Spain.

 

Dar Global was originally established to house and develop the international
assets of Dar Al Arkan Real Estate Development PJSC ('DAARE'), a leading real
estate developer in the Kingdom of Saudi Arabia.  Listed on the Saudi Stock
Exchange since 2007, Dar Al Arkan has delivered over 15,000 residential units
with total assets of c. US$7.5 billion.

 

The Company intends to expand its focus to hospitality assets. The aim is to
acquire or build hotels and sell them after a period of three to five years of
operation once the hotels' or resorts' revenue streams stabilise. Target
markets include the US, Spain, Dubai, Maldives, Athens, Saudi Arabia, and
London.

 

Dar Global was admitted to the Main Market of the London Stock Exchange on 28
February 2023. For more information, please visit www.DarGlobal.co.uk
(http://www.DarGlobal.co.uk)

 

 

 

 

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