The London Stock Exchange was listed. In Saudi Arabia, Dar Global has initiated its inaugural project in collaboration with the renowned jewelry brand Mouawad. Prices for the all-villa community will begin at SR4 million and beyond. Officially, sales will begin in late October.
This project includes several firsts, the most notable of which is Dar Global’s first foray into the Kingdom. This is noteworthy in and of itself because Dar Al Arkan Real Estate, the largest developer in Saudi Arabia in terms of market value, holds the majority of the company. It made a net profit of SR1 billion in 2023.
The CEO of Dar Global, Ziad El Chaar, asserts that there is a distinction.
“Through 3 decades, Dar Al Arkan has built is housing targeting mid-income owners,” said El Chaar. “Dar Global’s mandate is to create luxury housing in international hub cities, and Riyadh and Jeddah definitely are two such centers. More so after the Saudi investment rules allowed freehold ownership for foreign nationals.”
The Saudi jewelry company Mouawad is contributing interior design elements to the villas for the first time in the real estate market. Dar Global has refined its projects by collaborating with a variety of high-end brands, including Cavalli, Pagani, and others. Accordingly, Mouawad is an excellent option, according to El Chaar.
Aiming to introduce Riyadh and later Jeddah to a fresh group of affluent investors, Dar Global is presenting the Riyadh project to foreign brokers.
“The location is close toe Expo site that’s being developed and the airport,” said El Chaar. “The SR4 million has been set to tempt or convince foreign investors and expats who had been considering property buys to make use of the Saudi investment and residency law.” (The developer will take expressions of interest for the villas.)
Trump tower
At that point, Dar Global would also be prepared to introduce its upcoming Saudi project, a tower on the Jeddah corniche bearing the Trump name. A $500 million mixed-use development in Oman is the first project the two are working on in the Gulf Cooperation Council.
That would be the first Saudi venture for the Trump brand, and it should be more than enough to establish the Dar Global brand in the Kingdom. and set itself apart from Dar Al Arkan, its parent company.
