DarGlobal
| Industry | Real Estate |
|---|---|
| Founded | 2017 |
| Headquarters | , |
| Key people | Ziad Elchaar (CEO) |
| Website | darglobal |
Dar Global PLC is a real estate development company headquartered in Riyadh, Saudi Arabia, and is publicly listed on the London Stock Exchange (LSE).[3][4][5][6] The company began trading on the LSE on February 28, 2023, becoming the first Saudi company to be listed on the main market of the London Stock Exchange.[3][7][8]
The company has delivered a number of projects which were funded by the Public Investment Fund, which the New York Times claimed this demonstrated ties to the Saudi government.[9] The company is heavily invested in Trump family properties.[9]
History
[edit]Dar Global was established in 2017 as a real estate subsidiary of Dar Al Arkan. It initially focused its residential development projects in the Middle East and Europe.[10] Dar Global's first project of note got underway in 2021. The construction project was in United Arab Emirates, consisting of a 34-storey residential tower, located next to the Dubai Water Canal. The building topped out in 2022 and was branded as the Urban Oasis Tower. It was developed in partnership with Italian fashion house, Missoni.[11]
Dar Global was originally established to develop the assets of Dar Al Arkan Real Estate Development PJSC (DAARE), a real estate developer in KSA.[12]
Dar Global was listed on the Main Market of the London Stock Exchange on February 28, 2023.[13] In doing so it was given a valuation of $600 million.
Dar Global has delivered a compounded 500,000 square meters of commercial space and over 15,300 residential units, with assets valued at US$8.6 billion as of March 2023.[14]
Beginning in 2023, Dar Global announced its first partnership with China State Construction, at the time the world's largest construction company. The partnership was for the construction of the developers latest residential development in Dubai, the W Residences.[15] During the same year, the firm announced its first project in the Kingdom of Saudi Arabia.[16]
In 2024, through a partnership with the luxury car manufacturer Aston Martin Dar Global announced the start of the counstruction of The Astera in the United Arab Emirates.[17] The Astera is located on Al Marjan Island and is a residential beachfront property, costing $238 million to construct.[18]
The company is heavily invested in Trump family properties. By 2025, during the Second Donald Trump administration, Trump-branded properties accounted for 18% of Dar Global's entire portfolio.[19]
In Oman, the development group unveiled a Nickelodeon-themed hotel, in partnership with the US-based entertainment group.[20] Dar Global continued the expansion of its luxury real estate portfolio with the launch of a villa-focused development in partnership with Fendi Casa, a subsidiary of the fashion house of the same name.[21] The luxury villas would be sea-front within its AIDA development masterplan.
In early 2026, the development group announced its plans to begin development of Amaya in Jeddah, Saudi Arabia. The media often referred to the development as the Beverly Hills of Jeddah.[22] The masterplan spans 1 million square meters in a central location within the city.[22] In August 2026, Dar Global began awarding contracts for the construction of The Trump International Hotel and Tower in Dubai.[23] The 350-meter mixed-use skyscraper would have a construction cost of $1 billion and is planned to open in 2030.[23]
References
[edit]- ↑ Hassan, Nadin. "Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services". Arab News.
- ↑ Sharma, Alkesh. "Dar Global to partner with Aston Martin on $250m beachfront project in Ras Al Khaimah". The National.
- 1 2 Lipton, Eric (July 1, 2024). "Trump Organization Signs Up to Put Its Brand on a New Saudi Tower". The New York Times – via NYTimes.com.
- ↑ "Saudi's Dar Global plans to invest $300 million in USA - ET RealEstate". ETRealty.com.
- ↑ Report, Gulf News (May 2, 2023). "Dar Global strikes a profit in first results after FTSE listing, gets ready for Spanish launch". Gulf News.
- ↑ "UAE branded residences: Aston Martin, Dar Global reveal new $250mn residential real estate project in Ras Al Khaimah - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". Arabian Business. April 22, 2024.
- ↑ Halligan, Neil. "Dar Global reveals Trump Villas design for Muscat resort and golf course". The National.
- ↑ "Dar Global announces record $361m revenues - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". Arabian Business. March 1, 2024.
- 1 2 Gamio, Lazaro; Walker, Amy Schoenfeld (December 31, 2025). "Trump's Tangled Web of Deal-Making, Policy and Riches". The New York Times. ISSN 0362-4331.
- ↑ "Saudi real estate brand Dar Al Arkan's subsidiary to start trading on London Stock Exchange". Arab News. February 26, 2023.
- ↑ Oommen, Anup (April 12, 2022). "Saudi property developer Dar Al Arkan tops out 34-storey Urban Oasis residential tower in Dubai". Arabian Business.
- ↑ "Saudi property developer Dar Global to list in London on Feb. 28". Reuters. February 23, 2023 – via www.reuters.com.
- ↑ "Saudi mega-developer Dar Al Arkan to list its Dubai-based subsidiary in London". gulfnews.com. January 2, 2023.
- ↑ Zargani, Luisa (August 30, 2023). "Missoni, Dar Global Partner on Residential Project in Spain".
- ↑ Tolentino, Julianne (February 17, 2023). "DarGlobal appoints China State Construction to build $74mn W Residences". Construction Week.
- ↑ Knight, Madeleine (November 13, 2013). "Dar Global expands into Saudi Arabia". Property Week.
- ↑ "Dar Global introduces stunning beach residence The Astera, Interiors by Aston Martin". Aston Martin. June 4, 2024.
- ↑ "Dar Global appoints Stomek as foundations contractor for The Astera in Ras Al Khaimah". Arabian Business. October 22, 2024.
- ↑ "How the Trumps won the Gulf". The Financial Times. 2025.
- ↑ "Dar Global unveils Nickelodeon-themed hotel at AIDA Oman luxury development". Arabian Business. February 9, 2026.
- ↑ "Dar Global unveils FENDI Casa-branded luxury villas in Oman as Muscat's AIDA expands". Arabian Business. June 30, 2026.
- 1 2 Milner, Will (April 24, 2026). "DarGlobal appoints contractor for 1m sq m 'Beverly Hills of Jeddah' Amaya project". Arabian Business.
- 1 2 Rahman, Fareed (August 6, 2026). "Dubai's $1 billion Trump Tower moves forward as key contract issued". The National (Abu Dhabi).