Dar Global has announced the acquisition of a prime 28,800sqm plot within one of Jeddah’s forward-thinking masterplans. The developer said that it plans to develop a mixed-use project on this site, featuring premium residences, serviced apartments, retail, and offices. This project will be a significant addition to Jeddah’s ongoing transformation.
The project aligns with Saudi Arabia’s Vision 2030 by contributing to the country’s evolving urban landscape. It will incorporate internationally benchmarked design and architecture, enhancing Jeddah’s appeal as a destination for investment, business, and modern living, the company outlined.
Commenting on the acquisition, Dar Global CEO, Ziad El Chaar 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 development. 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.”
Strategically situated near Jeddah’s lifestyle and entertainment centers, this project aims to become a premium destination with an estimated gross development value of US $1bn. It will feature a diverse mix of residential, hospitality, retail, and office spaces, serving as both a landmark address for the city and a gateway to Jeddah’s future growth as an international hub for living and investment.
Dar Global acquires plot in Jeddah for mixed-use development Middle East Construction News.
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