Dar Global to build $1bn luxury project on prime Jeddah site

London-listed Saudi real estate developer Dar Global has announced the acquisition of a prime 28,800 sqm plot in Jeddah, where it will deliver a landmark mixed-use project featuring premium residences, serviced apartments, retail, and offices.

The development will form a key addition to Jeddah’s transformation and supports Saudi Arabia’s Vision 2030, contributing to the Kingdom’s evolving urban landscape with internationally benchmarked design and architecture.

With an estimated gross development value (GDV) of $1bn, the project is strategically located near Jeddah’s lifestyle and entertainment districts, designed to enhance the city’s position as a hub for investment, business, and modern living.

Dar Global plans Jeddah development

Ziad El Chaar, CEO of Dar Global, said: “As a company whose roots are in Saudi Arabia and now stands at the heart of international luxury development, this acquisition represents more than just the first steps of a new project.

“Indeed, it reinforces our commitment to the country’s bold future. By bringing together Saudi expertise in design and development with global standards of delivery, we aim to create a landmark destination in the heart of Jeddah.”

The project is set to become both a landmark address for the city and a gateway to the region’s future growth as an international destination for living and investment.