28 March 2023
Dar Global PLC
("Dar Global" or "the Group")
DAR GLOBAL LAUNCHES USD 2.4 BILLION DEVELOPMENT IN MUSCAT, OMAN
ONE-OF-A-KIND MIXED-USE COMMUNITY WITH LUXURY GOLF RESIDENTIAL
AND HOSPITALITY EXPERIENCES
Dar Global, the luxury international real estate developer, is pleased to announce the launch of sales for AIDA, a unique mixed-use gated community located in Muscat, Oman. AIDA features a Trump golf course and offers the ultimate luxury golf, residential, and hospitality experiences.
AIDA is a joint development project between Dar Global and OMRAN Group, Oman's leading tourism development company. The project spans over 3.4 million square meters and is located in the heart of Muscat, overlooking the Sea of Oman. The project's gross development value is USD 2.4 billion, with phased construction taking place over ten years.
The community will feature residential units, including luxury villas, apartments, an exclusive hotel and serviced apartments. AIDA also incorporates an array of amenities, including a world-class luxury golf club, restaurants, retail outlets, and a fitness centre.
Commenting on the launch, Ziad El Chaar, CEO of Dar Global, said: "We are delighted to launch sales for AIDA, which is set to become a landmark development in Oman. AIDA offers unparalleled luxury living and exceptional golfing experiences, and we are confident that it will attract investors and homebuyers worldwide."
Sales for AIDA are now open, and interested parties can visit the Dar Global website, www.darglobal.co.uk, to register interest in this exciting project.
For further enquiries, please contact:
| Dar Global |
|
| Abhilash Paul, Director Investor Relations
|
|
|
|
|
| Powerscourt | +44 (0) 20 7250 1446 |
| Justin Griffiths / Nick Dibden / Louisa Henry
|
About Dar Global
Dar Global PLC is a highly differentiated international real estate business. It focuses predominantly on developing real estate projects comprising second homes for internationally mobile customers, in some of the most desirable locations across the Middle East and Europe, including downtown Dubai, Muscat in Oman and the Costa del Sol region in Southern Spain.
Dar Global was originally established to house and develop the international (non-Kingdom of Saudi Arabia based) assets of Dar Al Arkan Real Estate Development PJSC ("DAARE"), a leading real estate developer in the Kingdom of Saudi Arabia. Listed on the Saudi Stock Exchange since 2007, Dar Al Arkan has delivered over 15,000 residential units with total assets of c. US$8.5 billion.
In the near future, the Group intends to expand its focus to hospitality assets. The aim is to acquire or build hotels and sell them after a period of three to five years of operation once the hotels or resorts' revenue streams stabilise. Target markets include Southern Spain, Dubai, Maldives, Athens, Marrakesh and London.
Dar Global was admitted to the Main Market of the London Stock Exchange on 28 February 2023.
Please visit www.DarGlobal.co.uk
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
