Dar Global to Build $1 Billion Luxury Mixed-Use Project on Prime Jeddah Site
Dar Global, a London-listed Saudi real estate developer, has announced the acquisition of a prime 28,800 square meter plot in Jeddah, Saudi Arabia, where it plans to deliver a landmark mixed-use development. This high-profile project will feature premium residences, serviced apartments, retail spaces, and office buildings, designed to elevate Jeddah’s urban landscape significantly.
The development carries an estimated gross development value (GDV) of $1 billion and will be strategically located near Jeddah’s vibrant lifestyle and entertainment districts. This positioning aims to enhance the city’s role as a hub for investment, business, and modern living, aligning with Saudi Arabia’s Vision 2030 initiative to diversify and modernize the Kingdom’s economy and cityscapes.
Ziad El Chaar, CEO of Dar Global, emphasized the significance of the project, stating that it represents more than just a new development but a commitment to Saudi Arabia’s bold future. By integrating Saudi expertise in design and development with global luxury standards of delivery, Dar Global aspires to create a landmark destination in the heart of Jeddah.
The project is set to become a key landmark address for Jeddah and a gateway to the region’s future growth. It will contribute heavily to the city’s transformation into an international destination for living, investment, and business, marking a major milestone in the Kingdom’s evolving real estate sector.
This development underlines the ongoing momentum in Saudi Arabia’s real estate market and its drive towards creating world-class urban experiences that resonate with global benchmarks.
This blog highlights Dar Global’s ambitious new project that promises to be a pivotal element in Jeddah’s continuing urban evolution and economic diversification strategy under Vision 2030. It underscores the blend of local expertise with international standards aimed at creating a prestigious destination for future residents, businesses, and investors in the region.