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Real estate developer Dar Global is ramping up its investments in Saudi Arabia with its most recent land acquisitions in Jeddah and Riyadh, valued at $390 million.
The current acquisitions include 243 fully developed plots in Jeddah, acquired for $93 million, and 190 prime plots for development in Riyadh for $297 million, Dar Global said.
This latest investment comes months following the launch of the $530 million Trump Tower Jeddah, a project that saw the London Stock Exchange-listed continue its collaboration with The Trump Organization, a conglomerate firm privately owned by US President Donald Trump.
Dar Global has been investing steadily in Saudi, with the company closing 2024 to a total of $760 million in investments in the kingdom, including the Neptune by Mouawad villa project valued at $230 million.
The company is the international arm of the Saudi-listed Dar Al Arkan Real Estate Development, one of the biggest real estate developers in the kingdom.
Rothschild & Co is acting as financial adviser on both acquisitions.
(Writing by Bindu Rai, editing by Seban Scaria)
