Trading Update

Dar Global, the luxury international real estate developer, is pleased to announce a trading update for the year ended 31 December 2023.

The Group continues to make good progress across all areas of its business. Over the course of the second half of 2023, the Group has seen continued positive momentum across a number of areas including unit sales, customer collections and also progress in construction, particularly on active projects in the United Arab Emirates, where we will imminently complete our first project - Urban Oasis Tower, and where revenue has been recognised during the period to December 2023 which is earlier than previously anticipated.

As a result of this, the Group now expects its financial performance for 2023 to be materially ahead of current market expectations1. Full year revenue is now expected to be between US$ 340 million and US$ 360 million and full year EBITDA expected to be between US$ 80 million and US$ 85 million subject to finalisation of the Annual Audit.

Dar Global expects to publish its full year results to 31 December 2023 in March 2024.

• Current analyst consensus for full year 2023 revenue is US$250 million and EBITDA is US$62 million.

Please visit www.DarGlobal.co.uk