Dar Global, the international development arm of Saudi Arabia’s Dar Al Arkan, secured new financing to facilitate its expansion and expedite project construction.
Emirates NBD, the largest bank in Dubai by assets, announced that it has arranged a $250M syndicated term loan facility for the developer.
Emirates NBD Capital, the bank’s investment banking division, acted as the joint mandated lead arranger, bookrunner and sole documentation agent, although the names of the participating banks were not disclosed.
According to the CEO of Dar Global, Ziad El Chaar, referenced diversified funding sources as a crucial node for the firm “supporting Dar Global’s continued growth, enhancing “liquidity” whilst providing the “flexibility” to advance the firm’s existing developments.
London-listed Dar Global revealed that its revenue has doubled to $539M for FY25, totalling a 577% uptick in net profit reaching $101M.
The gross development value of its project portfolio surged to $19B by the end of December, a significant rise from $7.5B on FY25, attributed to substantial project construction across KSA.
Dar Global has awarded major construction contracts for several high-profile projects, including Trump Tower Jeddah, The Astera project on Al Marjan Island in the UAE, Marea by Missoni in Spain, Great Escape Apartments in Oman, and phase 1 of the Aida development in Oman, which includes 91 villas and 60 townhouses.
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