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Jeddah Acquisition

8 Sep 2025 17:06

RNS Number : 4731Y
Dar Global PLC
08 September 2025
 

 

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY OFFER TO PURCHASE OR SUBSCRIBE FOR ANY SHARES OR OTHER SECURITIES IN THE COMPANY NOR SHALL IT FORM THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER.

 

For Immediate release 08 September 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

 

Dar Global PLC

("Dar Global" or the "Company")

 

ACQUISITION OF PRIME PLOT IN JEDDAH FOR THE DEVELOPMENT OF BRANDED MIXED USE SCHEME

 

Dar Global PLC, a highly differentiated international real estate developer specialising in exclusive luxury developments across the Middle East and Europe, today announces that it has signed an agreement with Dar Al Arkan Real Estate Development Company to acquire a prime land parcel within an integrated masterplan in Jeddah for the development of a luxury mixed-use project.

 

The site spans c.28,800 sqm within one of the city's most attractive new masterplans and is designated for a luxury scheme comprising premium residences, serviced apartments, retail, and office spaces. Strategically located near Jeddah's key lifestyle and entertainment destinations, the project will serve as a landmark destination with an estimated GDV of ~SAR 2.4 billion (USD 640 million).

 

The acquisition consideration of ~SAR 233 million (USD 62 million) will be settled through a combination of cash generated from sales and/or Dar Global Plc shares, within 60 months from the signing of definitive agreements. This acquisition is a swap with the Jeddah acquisition announced on 17th March 2025.

 

This acquisition underlines Dar Global's strategy to focus on prime locations and branded luxury projects that enhance its portfolio and reinforce Jeddah's position as a luxury real estate hub.

 

 

For further enquiries, please contact:

Dar Global

IR@darglobal.co.uk

Akram Traboulsi

 

Rothschild & Co (Sole Sponsor)

+44 (0) 207 280 5000

Peter Everest

Indios Sapara

Nikhil Walia

Burson Buchanan (Financial Communications) +44 (0) 20 7466 5000

Henry Harrison-Topham / Simon Compton / Jack Devoy darglobal@buchanancomms.co.uk

www.bursonbuchanan.com

 

 

 

IMPORTANT NOTICE:

The contents of this announcement have been prepared by and are the sole responsibility of the Company. The Company is not offering any Ordinary Shares or other securities in connection with the proposals described in this announcement. This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in the Company or securities in any other entity, in any jurisdiction, or the solicitation of any votes attaching to any securities, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "anticipates", "targets", "aims", "continues", "projects", "assumes", "expects", "intends", "may", "will", "would" or "should", or in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's result of operations, financial condition, prospects, growth strategies and the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of factors could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation: conditions in the markets, market position, the Company's earnings, financial position, return on capital, anticipated investments and capital expenditures, changing business or other market conditions and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this announcement based on past trends or activities should not be taken as a representation that such trends or activities will continue in the future.

Subject to the Company's regulatory obligations, including under the UKLRs, the DTRs, the UK MAR and the Financial Services and Markets Act 2000 ("FSMA"), neither the Company nor Rothschild & Co undertakes any obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise. None of the statements made in this announcement in any way obviates the requirements of the Company to comply with its regulatory obligations.

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively as joint lead financial adviser to Dar Global and for no one else in connection with the Transfer and other matters set out in this announcement and will not be responsible to anyone other than Dar Global for providing the protections afforded to its clients or for providing advice in connection with the Transfer and other matters set out in this announcement. Neither Rothschild & Co nor any of its affiliates (nor any of their respective directors, officers, employees or agents), owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Rothschild & Co in connection with the Transfer or other matters set out in this announcement, any statement contained herein or otherwise.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.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.
 
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ACQSSDFMAEISESU
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