Jeddah Acquisition
Dar Global acquires prime 28,800 sqm land plot in Jeddah for luxury mixed-use development with GDV of SAR 2.4bn.
- Site area c.28,800 sqm
- Estimated GDV SAR 2.4 billion (USD 640 million)
- Acquisition consideration SAR 233 million (USD 62 million)
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Dar Global PLC, a highly differentiated international real estate developer specialising in exclusive luxury developments across the Middle East and Europe, today announces that it has signed an agreement with Dar Al Arkan Real Estate Development Company to acquire a prime land parcel within an integrated masterplan in Jeddah for the development of a luxury mixed-use project.
The site spans c.28,800 sqm within one of the city's most attractive new masterplans and is designated for a luxury scheme comprising premium residences, serviced apartments, retail, and office spaces. Strategically located near Jeddah's key lifestyle and entertainment destinations, the project will serve as a landmark destination with an estimated GDV of ~SAR 2.4 billion (USD 640 million).
The acquisition consideration of ~SAR 233 million (USD 62 million) will be settled through a combination of cash generated from sales and/or Dar Global Plc shares, within 60 months from the signing of definitive agreements. This acquisition is a swap with the Jeddah acquisition announced on 17th March 2025.
This acquisition underlines Dar Global's strategy to focus on prime locations and branded luxury projects that enhance its portfolio and reinforce Jeddah's position as a luxury real estate hub.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.