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Dar Global PLC on Monday said it has secured a major new joint development agreement in Saudi Arabia and expanded its financing facility, moves it said will lift its gross development value by 67% to around $12.5 billion. The London-based luxury real estate developer said the agreement with majority shareholder Dar Al Arkan and strategic land acquisitions will enable large-scale projects in Riyadh and Jeddah with a combined GDV of $4.8 billion. In Riyadh, Dar Global will develop a $2.8 billion integrated scheme, anchored by a $300 million land purchase. In Jeddah, it will partner on a landmark mixed-use project worth around $2.0 billion. The company said the sites offer potential for luxury villas, a golf course, and a high-end hotel. Last year, Dar Global announced a $533 million Trump tower in Jeddah, in partnership with US President Donald Trump’s Trump Organization. To support its pipeline, Dar Global has increased its Litmus financing facility to $440 million from $275 million, raising liquidity by $165 million. The company also announced the acquisition of a licensed financial services platform based in the Dubai International Financial Centre. The entity will operate independently, offering asset management, investment banking and advisory services, which Dar Global said will help attract capital for larger-scale developments while reducing risk exposure. Chief Executive Officer Ziad El Chaar 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.’ Shares in Dar Global were up 5.2% at $7.60 in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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