Dar Global Plans Three New Developments in Saudi Arabia, Driven by Strong Sales

Dar Global, a London-listed developer, is significantly expanding its footprint in Saudi Arabia with plans for three new developments in Diriyah and Jeddah later this year. This expansion comes as Saudi Arabia now accounts for approximately 50% of Dar Global's overall property portfolio, with the wider Gulf region representing 80%.

CEO Ziad El Chaar highlighted the company's strategy to attract foreign capital, using an investor network spanning nearly 120 nationalities. The company has already seen success in this regard, with a Jeddah project attracting buyers from 58 different nationalities.

Saudi Market Growth and Investment

El Chaar pointed to Saudi Arabia's significant domestic demand, estimated at around $600 billion annually, which provides market stability even before foreign investment. The Kingdom's reforms regarding foreign ownership, coupled with economic growth, enhanced governance, and major initiatives like Expo 2030, are attracting international attention.

Dar Global's Wadi Safar development in Diriyah, a 3 million square meter project featuring approximately 500 palaces, has reported strong sales among Saudi buyers. Properties in this gated community, overlooking golf courses and green spaces, range from SAR 15 million ($4 million) to SAR 160 million ($42.6 million).

Operational Strategy and Financial Performance

To mitigate potential delays due to a shortage of contractors engaged in government megaprojects, Dar Global has established its own contracting company and acquired a project management firm. This strategy aims to keep the development chain in-house, reducing execution risks and maintaining project schedules.

Financially, Dar Global reported a 149% surge in net profit and a 66% rise in revenue for the first half of 2026, driven by earlier sales and construction progress. The company finances its projects through a mix of equity, local and international bank loans, off-plan sales, and partnerships with landowners and investors. Its equity is nearing $500 million, with a return on equity projected to reach approximately 25% in 2025.

Dar Global plans to launch new projects in Diriyah in October and November, followed by Jeddah in December. The company relies on partnerships with international luxury brands such as Aston Martin, Lamborghini, and Fendi, which contribute to global marketing reach and investor confidence.