Dar Global to Develop Large-Scale Projects in Saudi Arabia

Dar Global PLC, the investment arm of Saudi Arabia’s Dar Al Arkan on Monday said that it has secured a new 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 (GDV) to approximately $12.5 billion.

In a disclosure with London Stock Exchange (LSE) this morning, the company also said that it has strengthened liquidity position through the successful expansion of the company’s Litmus financing facility (Litmus Facility) from $275 million to $440 million.

The company has also acquired 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.

Saudi Arabia Projects

The 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 $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 $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 $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 scale of Dar Global’s pipeline but also illustrates the Group’s ability to structure transactions that balance investment exposure with long-term profitability.

Litmus Facility Increased

To accelerate delivery of the Group’s expanding portfolio, the new Litmus Facility will strengthen Dar Global’s liquidity position by $165 million. The facility is underwritten by Emirates NBD and supported by Abu Dhabi Commercial Bank (ADCB), First Abu Dhabi Bank, 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.

Acquiring DIFC Licence

In a move that diversifies the Group’s operations, Dar Global is acquiring a licensed financial services company in the Dubai International Financial Centre (DIFC).

The entity 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.

Together, these 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.

Dar Global CEO Ziad El Chaar said that these milestones mark an important inflection point for Dar Global.  In Saudi Arabia, the company is delivering landmark projects in prime locations and looking to bring in more overseas investment as the Kingdom opens up.

“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,” he added.