Dar Global Secures Landmark Plot in Jeddah for SAR 2.4 Billion Luxury Project

Jeddah, Saudi Arabia – Dar Global, the international arm of Saudi-listed Dar Al Arkan and a leading luxury real estate developer, has acquired a prime 28,800-square-metre land parcel in Jeddah to develop a world-class mixed-use luxury project. The total expected gross development value (GDV) of the project is estimated at SAR 2.4 billion, making it one of the largest private real estate investments in the city to date.

This significant investment demonstrates the growing appeal of luxury developments in the region and mirrors similar trends seen in Dubai's positioning as a top destination for the super-rich.

Key Project Highlights

Jeddah's Real Estate Market Welcomes Major Luxury Boost

This latest acquisition reflects Dar Global's strategic expansion into Jeddah's luxury property market, which is increasingly becoming a magnet for international investors and high-net-worth buyers. The upcoming project will cater to both domestic and global demand for high-end living, offering a curated mix of luxury residences, premium retail outlets, and grade-A office spaces — all within a single master-planned community.

With this development, Dar Global strengthens its foothold in Saudi Arabia's Red Sea coast, joining a growing number of mega-developments aimed at transforming Jeddah into a lifestyle and economic powerhouse. This trend reflects similar investment patterns seen in wealthy investors targeting luxury real estate markets across the Gulf region.

Aligned with Vision 2030 and Urban Transformation Goals

This high-value investment directly aligns with Saudi Arabia's Vision 2030, which encourages urban expansion, economic diversification, and elevated standards in residential living. Dar Global's new Jeddah project is designed to:

• Introduce global luxury standards to the local market
• Support tourism and lifestyle upgrades through mixed-use urban design
• Attract foreign and local investors seeking long-term returns in prime Saudi locations
• Create jobs and economic activity in real estate, retail, and services sectors

Dar Global's Strategic Saudi Expansion

Dar Global has been rapidly scaling its presence across the Gulf, with ongoing high-end projects in Riyadh, Muscat, and Dubai. The Jeddah acquisition marks a major milestone in its Saudi portfolio, and follows a series of headline developments including branded residences and luxury villas in collaboration with global design icons.

The company intends to bring a globally inspired architectural approach to the Jeddah project, merging international aesthetics with the cultural and environmental character of the city. This approach aligns with successful developments like Omniyat Group's visionary landmark projects that combine international standards with local characteristics.

What This Means for Jeddah's Property Market

The introduction of a SAR 2.4 billion luxury development comes at a time when Jeddah's real estate market is experiencing heightened demand, particularly in the premium and mixed-use segments. Investors are increasingly attracted by:

• The city's coastal appeal and infrastructure upgrades
• Government-backed urban renewal initiatives
• Rising interest in freehold and high-yield properties

This project is expected to further elevate Jeddah's position as a top-tier destination for luxury real estate in the Kingdom, similar to how experts voice faith in Dubai's realty market and consider it an optimal investment time.

Conclusion

Dar Global's acquisition of a prestigious land parcel in Jeddah marks a significant leap forward for the city's luxury property market. With a projected GDV of SAR 2.4 billion, the upcoming mixed-use development is set to reshape Jeddah's urban skyline, attract global investors, and deliver a new standard of integrated luxury living in Saudi Arabia.

This development follows the broader regional trend of strategic real estate investments across the Gulf, positioning Saudi Arabia as an increasingly attractive destination for luxury property investment.

FAQs

1. Where is the Dar Global project located in Jeddah?

The luxury mixed-use development will be built on a 28,800 sqm land plot in central Jeddah, close to key commercial and residential zones.

2. What is the estimated value of the project?

The project's gross development value (GDV) is approximately SAR 2.4 billion (USD 640 million).

3. What will the development include?

It will feature premium residential units, serviced apartments, office spaces, and a high-end retail boulevard.

4. How does this support Saudi Arabia's Vision 2030?

The project aligns with Vision 2030 goals by promoting economic diversification, luxury tourism, and urban development.

5. Who owns Dar Global?

Dar Global is the international subsidiary of Dar Al Arkan, one of Saudi Arabia's largest real estate developers, and is listed on the London Stock Exchange.