DAR GLOBAL GROWS GDV BY 67% TO US$12.5 BILLION AS IT LAUNCHES NEW DEVELOPMENTS IN SAUDI ARABIA AND ENTERS FINANCIAL SERVICES
Ahmed Bin Abdulqader ـ nabd-alhadath
Dar Global, the London-listed luxury real estate developer, today announces a series of strategic milestones that highlight both the strength of the Company’s core markets and the scale of its long-term growth strategy.
The Group is pleased to announce the following:
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It has secured a new significant joint development agreement with Dar Al Arkan* and completed strategic land acquisitions for large-scale projects in Riyadh and Jeddah. These will raise the Group’s Gross Development Value to approximately US$12.5 billion.
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A strengthened liquidity position through the successful expansion of the Company’s Litmus financing facility (‘Litmus Facility’) from US$275 million to US$440 million.
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A strategic acquisition of a licensed financial services platform in the DIFC which will allow Dar Global to provide complementary asset management and financial advisory capabilities and strengthen its ability to attract international capital in real estate through funds and thereby enabling participation in larger-scale opportunities with reduced risk exposure.
Strategic expansion in Saudi Arabia
The new large-scale projects in Saudi Arabia will significantly expand Dar Global’s development footprint, involving two large-scale communities with a combined GDV of around US $4.8 billion. In Riyadh, the Company has secured development rights through partial land acquisition and joint development agreement over a major integrated scheme valued at US $2.8 billion, anchored by a US $300 million land acquisition (partial portion of integrated scheme) which will be acquired in place of the Riyadh land acquisition announced by the Group on 17 March 2025. The Company has decided to pursue this development instead because it provides the potential to deliver greater scale and enhanced profitability while reducing development risk.
In Jeddah, a further joint development agreement covers a landmark mixed-use project on one of the city’s most prominent land parcels, with an estimated GDV of US$1.95 billion.
This expansion capitalises on Saudi Arabia’s rapid economic transformation, as it opens up to foreign ownership and the sustained demand for world-class real estate in the Kingdom. These are significant parcels of land with the opportunity to develop luxury villas, a world-class golf course and a luxury hotel.
This new strategic expansion in Saudi Arabia not only increases the scale of Dar Global’s pipeline but also illustrates the Group’s ability to structure transactions that balance investment exposure with long-term profitability.
Litmus Facility increased enhancing liquidity
To accelerate delivery of the Group’s expanding portfolio, the new Litmus Facility will strengthen Dar Global’s liquidity position by US$165 million. The facility is underwritten by Emirates NBD and supported by ADCB, FAB and Zand Bank. The structure is secured by the pledge of shares and backed by corporate guarantees. This enhanced liquidity will accelerate the Company’s existing projects and enable greater flexibility in pursuing new opportunities across the Middle East, Europe and North America, reinforcing long‑term resilience and execution capacity.
Entry into financial services via DIFC
In a move that diversifies the Group’s operations, Dar Global is acquiring a licensed financial services company in the Dubai International Financial Centre (DIFC). The entity is authorised to provide a wide suite of services including asset management, investment banking, and advisory activities. Operated as an independent subsidiary with its own governance structure, the platform will allow Dar Global to broaden its revenue streams and reduce reliance on development cycles.
It will also equip Dar Global with the ability to create and manage investment vehicles that attract institutional and private capital from the GCC and beyond, enabling participation in larger‑scale projects in a capital efficient manner. The acquisition also provides immediate regulatory readiness, avoiding the lengthier process of applying for a new license and positions Dar Global as both a developer and a financial platform that is agile and able to mobilise international capital into real estate opportunities. The Company plans to expand the team and diversify its offering.
Together, the strategic milestones announced today reinforce Dar Global’s position as a diversified international developer, combining a strong Saudi pipeline with enhanced capital strength and a new financial services platform to support long-term growth and value creation for investors and stakeholders. This success is further bolstered by Dar Global’s proven collaboration with landowners, government entities, and world-renowned luxury and hospitality brands, solidifying its leadership in delivering bespoke, high-end investment opportunities to affluent, globally mobile customers.
Ziad El Chaar, CEO of Dar Global, said: “These milestones mark an important inflection point for Dar Global. In Saudi Arabia, we are delivering landmark projects in prime locations and looking to bring in more overseas investment as the Kingdom opens up.
“The enhanced financing facility reinforces our balance sheet to fuel growth at scale and the establishment of a financial services arm in DIFC enhances our ability to structure capital and unlock global opportunities that previously would not have been available to the Group.
“Together, these initiatives reflect not just confidence in our strategy, but also the unique position we occupy as a bridge between high-growth markets and international investors. We look forward to providing further updates on these exciting initiatives as they progress.”
