Staff Report
Dubai, UAE
Dar Global, a leading luxury real estate developer, has announced its expansion in Saudi Arabia with two large-scale projects with a combined gross development value (GDV) of around US$4.8 billion, strengthening its total GDV to US$12.5 billion. The company has also announced its expansion of the Litmus financing facility from US$275 million to US$440 million and the acquisition of a licensed financial services platform in the DIFC.
The new projects in Saudi Arabia will significantly expand Dar Global’s development footprint, involving two large-scale communities in Riyadh and Jeddah 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. It 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 golf course, and a luxury hotel.
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.
The licensed financial services company in DIFC acquired by Dar Global 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.
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.”
The strategic milestones 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.
Ends
Also read: Dar Global launches Dh1.4 bn DG Villas at Jumeirah Golf Estates
