|
Dar Global PLC on Wednesday marked its fifth anniversary, highlighting its $23 billion gross development value and noting plans for further growth in asset management, real estate technology solutions and hospitality. Shares in the Dubai-headquartered luxury real estate developer opened 2.4% higher at $8.40 in London, but were down 7.9% at $7.55 late on Wednesday morning. Dar noted that in 2025, as reported in March, its gross development value tripled to $23 billion from $7.5 billion in 2024. It said this reflected ‘the scale and quality of the pipeline it has built across global markets, including five major master-planned communities and a growing portfolio of globally recognised branded residences.’ Revenue for the year more than doubled to $539 million and earnings before interest, tax, depreciation and amortisation reached a record of $126 million, the company noted. Dar added that as of Wednesday, it has approximately 6,100 units under construction across 16 projects. Moreover, a cash & equivalents total of $702 million, and a recently secured $250 million financing facility, support its ‘strong financial position’. ‘Over the last five years, we have built a company designed for global citizens, investors who increasingly live, work and invest across multiple countries,’ Chief Executive Officer Ziad El Chaar commented. Dar also said it has expanded into hospitality and entertainment as part of its next growth phase. It is gathering a portfolio of private members’ clubs and golf destinations ‘across key international markets’, and has luxury hotels under development in the Maldives, Riyadh, Muscat and Dubai. Additionally, the company has partnered with various luxury brands including Aston Martin, Marriott Residences and The Trump Organization. Furthermore, Dar Global highlighted the launch of asset management platform, Dar Global Capital Partners, and that it is advancing initiatives in real estate tokenisation. ‘Looking ahead, Dar Global plans to deepen its focus on asset management, hospitality and technology-enabled real estate solutions while progressing major master communities in Muscat, Riyadh, Jeddah, Southern Spain, with an additional large-scale community planned in Greece,’ the company stated. ‘As we look ahead, our ambition is not simply to build homes, but to create destinations, experiences and ecosystems that define the future of luxury living,’ El Chaar said. He added that Dar Global is ‘only at the beginning of [its] growth journey’. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
