Saudi Arabian property developer Dar Global is poised to make a significant entry into the U.S. real estate market with an ambitious plan to invest $300 million in luxury housing developments across New York, Miami, and Los Angeles. As the international arm of the renowned Dar Al Arkan Real Estate Development Company, Dar Global is focusing on high-end projects that will appeal to both domestic and international buyers.
Ziad El Chaar, CEO of Dar Global, has revealed that the company is in active discussions with top U.S. real estate developers to establish partnerships for these ventures. While he refrained from naming specific partners, El Chaar emphasized the company’s commitment to closing its first U.S. project by the end of the year. Dar Global’s strategy includes raising debt both within and outside the United States to fund its developments, with the $300 million earmarked for equity investments in these luxury projects.
Dar Global’s expansion into the U.S. market represents a key milestone for the company, which has built a strong reputation in the Middle East for its high-quality developments. The company’s goal is to attract non-U.S. buyers for at least half of the homes in its U.S. projects, a strategy that aligns with its broader vision of catering to an international clientele.
This move follows Dar Al Arkan’s high-profile collaboration with the Trump Organization, announced in November 2022. The $4 billion project in Oman, featuring a golf course, hotel, and luxury villas, marks a significant expansion for the Trump brand in the Middle East. This partnership underscores the close ties between former U.S. President Donald Trump and Gulf states, including Saudi Arabia, which has also invested $2 billion with a firm owned by Jared Kushner, Trump’s son-in-law and former senior advisor.
While El Chaar acknowledged the prestige of potentially partnering with the Trump Organization or Kushner Companies for Dar Global’s U.S. expansion, he noted that their current offerings may not align with Dar Global’s focus on appealing to international buyers. Instead, Dar Global is seeking to create unique, luxurious properties that cater to a global market, setting the stage for its successful entry into the competitive U.S. real estate sector.
