PRESSR: dar Global grows GDV by 67% to $12.5bln as it launches new developments in Saudi Arabia and enters financial services

About this update from Dar Al Arkan Real Estate Development Co.

London, UK: Dar Global, the London-listed luxury real estate developer, today announces a series of strategic milestones that highlight both the strength of the Company’s core markets and the scale of its long-term growth strategy.The Group is pleased to announce the following:It has secured a new significant joint development agreement with Dar Al Arkan* and completed strategic land acquisitions for large-scale projects in Riyadh and Jeddah. These will raise the Group’s Gross Development Value to approximately US$12.5 billion.A strengthened liquidity position through the successful expansion of the Company’s Litmus financing facility (‘Litmus Facility’) from US$275 million to US$440 million.A strategic acquisition of a licensed financial services platform in the DIFC which will allow Dar Global to provide complementary asset management and financial advisory capabilities and strengthen its ability to attract international capital in real estate through funds and thereby enabling participation in larger-scale opportunities with reduced risk exposure.Strategic expansion in Saudi ArabiaThe new large-scale projects in Saudi Arabia will significantly expand Dar Global’s development footprint, involving two large-scale communities 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 announced by the Group on 17 March 2025. The Company 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 world-class golf course and a luxury hotel.This new strategic expansion in Saudi Arabia not only increases the scal...

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