Latest news with #DarGlobal
Newsweek
18-07-2025
- Business
- Newsweek
Satellite Images Show New Trump Resort Emerge in Middle East
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Recent satellite imagery reveals significant progress at one of the Middle East's most high-value coastal real estate projects, where Trump-branded villas are being developed above the Gulf of Oman. Newsweek contacted real estate developer Dar Global and the Trump Organization for comment. U.S. President Donald Trump has handed over his multiple global business interests to his family while he is serving as president, but his critics say potential conflicts of interest remain. Why It Matters The megaproject, called Aida, sits atop cliffs roughly 430 feet above sea level near Oman's Yiti beach, and aligns with the country's Vision 2040 aimed at diversifying the country's economy beyond oil through high-end tourism and foreign investments. A centerpiece for the project is Trump International Oman—a $500 million resort anchored by a 140-room luxury hotel and an international-standard golf course. The project reflects the Trump Organization's deepening footprint in the Gulf, with country leaders also forging close political and security ties with the U.S. president. Oman has been acting as a mediator between the U.S. and Iran on nuclear talks. Drag slider compare photos What To Know Spanning over 3.5 million square meters, the coastal project is being built through a joint venture between Saudi Arabia's Dar Global, a London-listed real estate developer, and Omran Group, the state's authority overseeing tourism investment in Oman. Dar Global said in its July digital newspaper issue that "significant progress is underway at AIDA." Located about 15 minutes from Oman's capital, Muscat, the resort is within reach from major Gulf tourism hubs, such as Dubai in the United Arab Emirates. Aida, which combines upscale residences, hotels, and recreational facilities secured financing from the National Bank of Oman in February. The company is developing the Trump Cliff Villas, upscale sea-view homes tucked near the Trump International Hotel. A three-bedroom villa is being sold at over $1 million, according to real estate developers' websites. DarGlobal is developing a signature resort in AIDA, a $4B landmark 130m above Muscat. With luxury villas, a Trump Golf Course, a world-class hotel, & a hanging nightclub, AIDA redefines elegance while preserving nature. #DarGlobal #AIDA #Trump #Oman — DarGlobal (@dar_global) January 3, 2025 Dar Global is also building the Trump Tower Jeddah, a 47-story-tower on the city's corniche scheduled for completion in 2029 and the Trump International Hotel and Tower Dubai, featuring the world's highest outdoor pool. What People Are Saying Ziad El Chaar, CEO of Dar Global said in February, as quoted by Kanebridge News business platform: "As a milestone project AIDA is not only slated to elevate the luxury real estate offering of Oman but also deliver tangible economic growth by attracting investment, creating jobs, strengthening the tourism and related sectors." Eric Trump, Executive Vice President of the Trump Organization said in 2024: "We are thrilled to introduce Trump International Oman with Dar Global, marking a new era of sophistication, impeccable service, and exclusivity, elevating Oman as a premier global destination." What Happens Next The first phase of AIDA, focused on core infrastructure, is due for completion by 2027. Trump International Oman is expected to open by December 2028.
Zawya
15-07-2025
- Automotive
- Zawya
Dar Global awards contract for region's first Aston Martin-backed project
Saudi Arabia - Dar Global, a London-listed luxury real estate developer, has announced that it has awarded the shoring, excavation, and piling works contract to leading engineering and construction firm Stromek Emirates Foundations for its prestigious 'The Astera, Interiors by Aston Martin' project. Set on Al Marjan Island in the northern emirate of Ras Al Khaimah, this is the luxury British sports car brand's first venture into interior design for a real estate development in the Middle East. With a gross development value of AED900 million ($245 million), 'The Astera' marks Aston Martin's first venture into interior design for a real estate development in the Middle East. It will feature a mix of luxury apartments and villas, blending Aston Martin's signature design aesthetics with Dar Global's commitment to offering exceptional living experiences, said a statement. Dar Global said the shoring, excavation, and piling works are expected to commence immediately, laying the foundation for what will soon be a landmark development on the Arabian Sea. Stromek's appointment is a key milestone in the progress of 'The Astera,' a development that will combine iconic British design with cutting-edge engineering and craftsmanship, elevating the living experience for future residents, it stated. Stromek's scope of work will focus on ensuring the stability and sustainability of the development's foundational elements. The firm's expertise will play a critical role in preparing the site for construction, ensuring that the project can proceed smoothly while adhering to the highest standards of safety and precision. Awarding the contract, CEO Ziad El Chaar said: "We are thrilled to have Stromek on board for this pivotal phase of 'The Astera' project. Their proven track record of excellence in shoring, excavation, and piling work perfectly aligns with the standards we uphold at Dar Global." "This collaboration underscores our commitment to working with the best in the industry to deliver world-class luxury developments that will leave a lasting impact," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
14-07-2025
- Automotive
- Zawya
Dar Global awards main works contract for 'The Astera, Interiors by Aston Martin' to Gulf Asia Contracting LLC
United Arab Emirates: Dar Global, the London-listed luxury real estate developer, proudly announces that Gulf Asia Contracting LLC (GAC), a renowned General Contractor in the GCC with extensive industry experience and ongoing operations in the region, has been awarded the main works contract for its prestigious 'The Astera, Interiors by Aston Martin' project. The total contract value for the main works package is AED 201,462,000.00. This significant award marks a pivotal milestone in the development of 'The Astera,' which has a Gross Development Value of AED900 million (£200 million) and represents Aston Martin's inaugural venture into interior design for a real estate development in the Middle East. Set on the picturesque Al Marjan Island in Ras Al Khaimah, 'The Astera' will feature a mix of luxury apartments and villas, seamlessly blending Aston Martin's signature design aesthetics with Dar Global's unwavering commitment to offering exceptional living experiences. Gulf Asia Contracting LLC's scope of work will encompass the comprehensive construction of the entire development, from superstructure to finishes, ensuring the highest standards of quality, craftsmanship, and timely delivery. Their proven expertise and extensive regional experience will be instrumental in bringing the iconic design and luxurious vision of 'The Astera' to life. Following the successful completion of the shoring, excavation, and piling works by Stromek Emirates Foundations, the commencement of the main works signifies a major acceleration in the project's construction phase. This appointment is a key step towards realizing 'The Astera' as a landmark development on the Arabian Sea, combining iconic British design with cutting-edge engineering and craftsmanship, and elevating the living experience for future residents. 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 Burson
Zawya
14-07-2025
- Business
- Zawya
Qatar: Residential sales transactions witness 13.2% increase in Q1
Doha: Qatar's real estate market remained stable in the first quarter (Q1) of this year. The residential sales saw a substantial rise as the transactions witnessed a 13.2 percent surge on quarterly basis (QoQ) and 67.1 percent annually (YoY) in Q1 2025. The median ticket size for housing units was QR2.7m showing an increase of 3.8 percent quarter-on quarter but a decline of 3.6 percent on yearly basis, according to ValuStrat real estate research for Q1. The highest transaction activity was recorded in Doha and Al Dayeen. The Pearl Island and Al Qassar saw sales value surge by 54.3 percent, while transaction volume climbed 39.8 percent QoQ . Regarding residential supply in Q1, the research noted that the total residential stock during Q1 2025 was 401,542 units, comprising 253,513 apartments and 148,029 villas. An estimated 2,000 apartments were delivered during the quarter. The key additions included 690 units at Gewan Island (The Pearl), 377 in Shahad Tower (West Bay), and 676 across Lusail Marina's FJ Residence, Venice Tower, and Nayef Tower. Qatari Diar, in collaboration with Dar Global, announced a new development under the Simaisma coastal project, featuring Trump-branded villas and an international-standard golf course. SAK Holding launched the Usool Al Mansoura Compound, comprising of two towers with around 500 units ranging from studios to three-bedroom apartments. The project, with a total built-up area of 62,218 sqm, is offered under a leasehold structure. Tameer Properties acquired seven seafront plots on Qetaifan Island North to develop luxury residences and branded hotel-serviced apartments, with Carlton House announced as the first project. The median monthly rent for a residential unit held steady quarterly but fell 1% YoY to QR8, apartment lease values stabilised at QR6,000 since the previous quarter while reflecting a 2 percent annual drop. For one-bedroom apartments the median monthly lease rate was QR5,500, for two-bedrooms QR6,250, and for a three-bedroom QR7,500. The rents in Lusail remained stable QoQ, while rates in Al Mansoura recorded an increase of up to 2 percent. In contrast, Al Sadd experienced a 2 percent decline compared to the previous quarter. Over 18,000 apartment rental contracts were signed in Q1, marking a 15 percent increase both quarterly and yearly. A slight softening in tenant churn was observed, as new lease agreements accounted for 82 percent of total contracts in Q1 2025. Al Wukair, Al Mashaf, and Al Thumama cumulatively were the top contracted areas with 5,319 leases, measuring an increase of 17.5 percent quarterly. The median rent for villas was QR11,000, stable QoQ but increased by 1 percent annually. The quarterly adjustments in key areas were minimal, showing only a 1 percent rise or fall QoQ. The median monthly rent for a three-bedroom villa was QR11,500, for a four-bedroom villa QR12,000, and for a five-bedroom villa QR14,000, the research further said. It added, around 6,048 villa lease contracts were signed during Q1 2025 reflecting an increase of 10 percent QoQ and 13.7 percent YoY. New tenancies accounted for 83 percent of the total agreements The cumulatively, Soudan, Aziziya, Ghanim, and Murrah were the top rented areas with more than 664 contracts, an increment of 4 percent since fourth quarter last year. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Post
08-07-2025
- Business
- Arabian Post
Dubai Ultra‑Luxury Property Boom Shows No Slowdown
Dubai's ultra‑luxury real estate market surged in April to June 2025, with transactions for homes priced above $10 million reaching US $2.6 billion, a 37 % rise from the previous quarter and a 63 % increase year‑on‑year, according to London‑based researcher Knight Frank. The emirate recorded 143 such deals in Q2, up from fewer in Q2 2024, underscoring its dominance in the global super‑prime segment. Palm Jumeirah held its status as the top destination for high‑end buyers, with La Mer following closely behind. Both areas have seen robust developer confidence, evident in pipeline projects like Dar Global's Trump Tower and Arada's twin‑tower Akala on Sheikh Zayed Road, aimed at the ultra‑rich. Knight Frank's global data shows Dubai remained the world's busiest market for homes over $10 million throughout 2024 and continued its leadership into Q2 2025. In Q1 2025 alone, 111 such homes sold— the strongest first‑quarter tallies ever recorded. ADVERTISEMENT Experts attribute the surge to a growing pool of ultra‑high‑net‑worth individuals attracted by tax‑friendly policies, infrastructure, and lifestyle amenities. Knight Frank's 'Destination Dubai 2025' report indicates that over US $10.3 billion in private capital, from buyers in India, Saudi Arabia, the UK, and East Asia, is earmarked for Dubai's residential market. Faisal Durrani, Head of Research for MENA at Knight Frank, noted that total luxury home sales value has risen by 282 % since 2020, and that Dubai almost matched London and New York combined in transactions over $10 million in 2024. Villa sales have been especially strong. In 2024, 68.5 % of all homes priced over $10 million were villas—a sharp increase from around 52 % in 2022–23—reflecting UHNWI preference for standalone luxury residences. Despite high demand, supply at this price tier remains limited. Listings for homes over $50 million have plunged—from 37 to just nine—prompting developers to speed up villa construction. Nearly 9,000 villas are expected by the end of 2025, with a further 19,700 slated for completion next year. This supply‑demand imbalance has pushed prices higher: villa values rose approximately 20 % during 2024 and prime neighbourhoods like Palm Jumeirah and Emirates Hills saw quarterly price increases of around 20 %. In Emirates Hills alone, land prices now range up to AED 7,154 per square foot, with some high‑end plots trading at over AED 200 million. Still, despite rising costs, Dubai's luxury home market offers relative affordability. A million dollars buys 91 sqm of prime property in Dubai, compared with just 33 sqm in London and 34 sqm in New York. However, analysts stress that several risks could temper growth. A sharp global economic downturn or a drop in oil prices might undermine demand, potentially deflating the market. Additionally, strains on infrastructure and rising rental costs—up to 20 % in some areas in 2024—highlight challenges in managing Dubai's rapid expansion. Still, momentum remains strong. Much of the surge reflects rising global wealth flows, particularly from India, Saudi Arabia, the UK, and East Asia, and government efforts to enhance Dubai's appeal. High‑net‑worth buyers are favouring off‑plan villas and branded residences in locations such as Dubai Marina, Dubai Hills Estate and Emirates Hills.
