Latest news with #DarAlArkan
Arab News
12-08-2025
- Business
- Arab News
Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services
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. '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,' Ziad El-Chaar, CEO of Dar Global, said. 'The enhanced financing facility reinforces our balance sheet to fuel growth at scale, and the establishment of a financial services arm in DIFC (Dubai International Financial Center) enhances our ability to structure capital and unlock global opportunities,' he added. To accelerate these developments, Dar Global expanded its Litmus financing facility from $275 million to $440 million, adding $165 million in liquidity. The facility, underwritten by Emirates National Bank of Dubai and supported by Abu Dhabi Commercial Bank, First Abu Dhabi Bank, and Zand Bank, is secured through pledged shares and corporate guarantees. The additional funds will strengthen the company's balance sheet, speed up project delivery, and support expansion across the Middle East, Europe, and North America. Dar Global acquired a licensed financial services platform in the Dubai International Financial Center, authorized to provide asset management, investment banking, and advisory services. Operating as an independent subsidiary, the platform will enable the company to attract institutional and private capital into larger-scale projects and create investment vehicles to channel funds from the GCC and beyond. Dar Global has positioned itself as a bridge between high-growth markets and international investors, leveraging partnerships with landowners, government bodies, and brands to deliver real estate offerings to global clients.
ME Construction
12-08-2025
- Business
- ME Construction
DAR Global grows GDV by 67% expands in Saudi Arabia
Property DAR Global grows GDV by 67% expands in Saudi Arabia By In a move that diversifies Dar Global's operations, the company said it is also acquiring a licensed financial services company in the Dubai International Financial Centre Developer Dar Global has announced a series of strategic milestones that are said to showcase the strength of its core markets and the scale of its long-term growth strategy. The developer said it has secured a new joint development agreement with Dar Al Arkan and completed land acquisitions for large-scale projects in Riyadh and Jeddah. These developments will raise the group's Gross Development Value (GDV) to US $12.5bn. Additionally, the company has strengthened its liquidity position by successfully expanding its Litmus financing facility from $275mn to $440mn. The new large-scale projects in KSA will expand Dar Global's development footprint. These projects involve two large-scale communities with a combined GDV of around $4.8bn. In Riyadh, Dar Global has secured development rights through partial land acquisition and a joint development agreement over a major integrated scheme valued at $2.8bn. In Jeddah, Dar Global said it has secured a further joint development agreement for a landmark mixed-use project on one of the city's land parcels. This project is estimated to have an estimated GDV of $1.95bn. This scheme is anchored by a $300mn land acquisition (partial portion of the integrated scheme). This acquisition will replace the Riyadh land acquisition announced by the group. Dar Global said it has decided to pursue this development because it offers the potential to deliver greater scale and profitability while reducing development risk. 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.' This expansion capitalises on Saudi Arabia's rapid economic transformation, which has opened up the Kingdom to foreign ownership and sustained demand for real estate. These significant parcels of land offer the opportunity to develop luxury villas, a golf course, and a luxury hotel. This expansion in Saudi Arabia not only expands Dar Global's pipeline but also demonstrates the group's ability to structure transactions that balance investment exposure with long-term profitability. To accelerate the delivery of Dar Global's expanding portfolio, the new Litmus Facility will strengthen the company's liquidity position by $165mn. Underwritten by Emirates NBD and supported by ADCB, FAB, and Zand Bank, the facility is secured by the pledge of shares and backed by corporate guarantees. This enhanced liquidity will accelerate existing projects and enable greater flexibility in pursuing new opportunities across the Middle East, Europe, and North America. In a move that diversifies Dar Global's operations, the company said it is acquiring a licensed financial services company in the Dubai International Financial Centre (DIFC). This 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 and provides immediate regulatory readiness, avoiding the lengthy process of obtaining a new license. Consequently, Dar Global is positioned as both a developer and a financial platform that is agile and capable of mobilising international capital into real estate opportunities. The company plans to expand its team and diversify its offerings.
Asharq Al-Awsat
12-08-2025
- Business
- Asharq Al-Awsat
Dar Global Unveils $12.5 Billion Expansion Drive with Major Saudi Projects
Dar Global, the London-listed real estate developer, announced on Monday strategic expansions into the broader capital markets, raising the Group's Gross Development Value to approximately $12.5 billion, up by 67%. The company said it secured a new significant joint development agreement with Dar Al Arkan and completed strategic land acquisitions for large-scale projects in Riyadh and Jeddah with a combined GDV of around $4.8 billion. In Riyadh, the company said it secured development rights through partial land acquisition and joint development agreement over a major integrated scheme valued at $2.8 billion, anchored by a $300 million land acquisition. 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 $1.95 billion. The expansion capitalizes 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, Dar Global said. These are significant parcels of land with the opportunity to develop luxury villas, a world-class golf course and a luxury hotel, it added. To fuel this growth, Dar Global said it increased its Litmus financing facility from $275 million to $440 million, adding $165 million in fresh liquidity. The expansion was underwritten by a consortium of prominent regional banks, including Emirates NBD and supported by ADCB, FAB and Zand Bank. '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,' the company said. Also, Dar Global said it is acquiring a licensed financial services company in the Dubai International Financial Center (DIFC). The entity is authorized 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 the company to broaden its revenue streams and reduce reliance on development cycles. '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,' said Ziad El Chaar, CEO of Dar Global. '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,' he added. El Chaar also noted that these initiatives reflect not just confidence in the company's strategy, 'but also the unique position we occupy as a bridge between high-growth markets and international investors.'
Zawya
11-08-2025
- Business
- Zawya
Dar Global grows GDV by 67% to $12.5bln as it launches new developments in Saudi Arabia and enters financial services
London, UK: 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: 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. 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. 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.' * As Dar Al Arkan is the majority shareholder in Dar Global, the upsizing of the Litmus Facility and the Riyadh land acquisition (the 'Land Acquisition') constitute related party transactions under Rule 7.3 of the Disclosure Guidance and Transparency Rules ('DTRs'). Accordingly, in compliance with Rule 7.3.8R of the DTRs, the transactions were approved by the directors deemed to be independent of Dar Al Arkan, being David Weinreb, Maurice Horan, Richard Stockdale and Ziad El Chaar. The Company confirms that the upsizing of the Litmus Facility and the Land Acquisition have been undertaken in the ordinary course of business and on an arm's length basis. About Dar Global DarGlobal PLC is an international real estate developer specializing in exclusive luxury developments across the world's most coveted cosmopolitan cities. Catering to global citizens seeking prime investments, second homes, and luxury living, DarGlobal transforms real estate into economic catalysts, unlocking opportunities for both investors and the countries it enters. DarGlobal has partnered with over 10 world-renowned luxury brands, including Trump Organization, Aston Martin, Automobili Lamborghini, Fendi, ELIE SAAB, Marriott Residences, Missoni, Mouawad, Pagani Automobili, and W Hotels. These collaborations offer unique investment opportunities in global cities, providing both wealth growth and protection. Listed on the London Stock Exchange, DarGlobal goes beyond property development, it drives economic transformation by attracting international clients and Foreign Direct Investment (FDI). By injecting capital, confidence, and industry expertise, DarGlobal enhances local infrastructure while elevating the global appeal of each destination. With a presence in 14 international cities across 9 countries, DarGlobal's portfolio spans the United Kingdom, Spain, Greece, Saudi Arabia, the UAE, Oman, and Qatar. The company is also expanding into world-class hospitality, developing luxury hotels in Dubai, the Maldives, and Oman. To support its international clientele, DarGlobal has sales and customer service offices in New York, London, Marbella, Athens, Dubai, Jeddah, Riyadh, Muscat, and Doha. For media enquiries, please contact: Reem AlTajer | Mustapha Al Tayech Burson |
Zawya
11-08-2025
- Business
- Zawya
Dubai's Dar Global expands into financial services, strengthens liquidity with $165mln facility
London-listed luxury real estate developer Dar Global is acquiring a licensed financial services company in the Dubai International Financial Centre (DIFC), a move that will enable the firm to tap into broader revenue streams. The international property arm of Saudi Arabia's Dar Al Arkan also announced it has bolstered its liquidity with a $165 million facility underwritten by Emirates NBD, with participation from ADCB, FAB, and Zand Bank. The structure is secured by a pledge of shares and backed by corporate guarantees, the company said in a statement to the London Stock Exchange (LSE). In addition, Dar Global has entered into a joint development agreement with Dar Al Arkan and completed strategic land acquisitions in Riyadh and Jeddah, raising its Gross Development Value (GDV) to approximately $12.5 billion. 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.' In April, Dar Global in partnership with The Trump Organization, launched a $1 billion, 80-storey tower in Dubai that includes luxury penthouses, a hotel and branded homes. (Reporting by Brinda Darasha; editing by Anoop Menon)
