Dar Global to launch 2 projects worth SAR 38B in Saudi Arabia

The projects will be financed through the company’s portfolio, as well as through collaboration with Dar Al Arkan Real Estate Co., its parent company, and a number of local and regional banks.

Part of the financing will also come from off-plan sales, leveraging future customer payments, he added.

Dar Global entered the Saudi market in December 2024, with the launch of the Trump Tower Jeddah and the Neptune Bay project in ROSHN’s Sedra project in Riyadh, El Chaar said.

The company’s portfolio in the Kingdom stands at around $11 billion (SAR 41 billion).

El Chaar said the Sedra project has achieved a 50% completion rate in one year, while underground infrastructure reinforcement and core works at Trump Tower have been completed.

The main contractor has also been appointed and on-site construction has begun, with the project expected to be completed within 30 months.

He pointed to significant government support for developers through installment-based land sales, noting that all projects launched will be delivered before 2030.

As regards real estate ownership by foreigners, El Chaar said it is the responsibility of developers in any country — especially in Saudi Arabia — to market this decision, as foreign investors are still not sufficiently aware of it.

He emphasized that the government has opened the market to foreign ownership, but the developers' role is to promote and communicate this policy.

The CEO stressed that Dar Global’s entry into the Saudi market was driven by its extensive experience in marketing to foreign investors, as its clients are from 120 nationalities.

He highlighted that the company will leverage this advantage to promote the Saudi real estate market to foreign investors, making Dar Global a key contributor to attracting foreign investment to the Kingdom.

As for a dual listing on the Saudi market, El Chaar said that the parent company, Dar Al Arkan, is already listed on the Saudi Exchange (Tadawul), ruling out the need for a dual listing.