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Dar Global PLC on Monday said it has struck two deals to invest a total of $390 million in Saudi Arabian real estate. The London-based luxury real estate developer said it has bought 190 plots in Riyadh for $297 million and 243 fully developed plots in Jeddah for $93 million. Dar Global bought the Riyadh plots from its parent company and majority shareholder Dar Al Arkan Real Estate Development Company SJSC. The Riyadh deal covers 466,877 square metres in the north of the city. It has an estimated gross development value of $800 million, Dar Global said. The Jeddah plots are within a 863,000 square metre ‘master-planned community’ and were bought from an unnamed ‘local Saudi landowner’. Dar Global said it expects the Jeddah deal to ‘generate significant profit’ with an estimated gross development value of $200 million. The firm said the acquisitions show its commitment to ‘Saudi Arabia’s rapidly growing and attractive real estate market’. The purchases will be funded by either cash generated from the sale of the schemes or the issuance of new shares, in the next five years. Chief Executive Officer Ziad El Chaar said: ‘These latest acquisitions reinforce Dar Global’s position as an evolving key player in Saudi Arabia’s dynamic real estate market and mark a continued commitment to pursuing high-value opportunities in strategic locations across the kingdom.’ Shares in Dar Global were flat at $5.41 in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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