STATEMENT: Dar Global's iconic projects enter the construction phase due to investor demand

(Information sent by the signatory company).

STATEMENT: Dar Global's iconic projects enter the construction phase due to investor demand

(Information sent by the signatory company)

DUBAI, UAE, Dec. 15, 2023 /PRNewswire/ -- Dar Global, the international luxury real estate developer, has announced a major milestone by simultaneously commencing construction on three of its long-awaited projects in December 2023: Tierra Viva in Spain , AIDA in Oman and Les Vagues in Qatar.

The commencement of construction activity on the three featured developments reflects Dar Global's unwavering commitment to delivering high caliber projects on time to maximize long-term value for investors. This milestone redefines luxury living experiences and further solidifies the brand's regional and global presence following its successful listing on the London Stock Exchange earlier this year.

Having achieved strong financial performance in the first half of 2023 and expanded its asset portfolio with the announcement of three new partnerships with luxury brands, Dar Global continues to set new benchmarks in the global real estate space with its ambitious strategy of growth.

Ziad El Chaar, CEO of Dar Global, said: "We are pleased to announce the start of construction of three of our most distinctive luxury developments. Tierra Viva, AIDA and Les Vagues witnessed an overwhelming response from clients and investors, and Dar Global will continue to set new benchmarks of quality and exclusivity as we deliver these premier properties in line with our scheduled project timelines. In the first half of 2023, we recorded strong demand for existing and newly launched projects, and “We are excited to close the year on a high note as we move forward on schedule on these prestigious projects amid growing interest from investors around the world.”

Located within the ultra-exclusive town of Benahavis and with a GDV of €282 million, Tierra Viva marks the first project by Dar Global and Automobili Lamborghini in continental Europe and is inspired by the iconic design of the legendary Automobili Lamborghini.

Developed as a joint venture with Omran Group, the executive arm of the Sultanate of Oman for tourism development, AIDA represents the largest urban development in Oman. The start of the first phase of construction at its site marks a crucial step in the transformation of the landscape and the realization of AIDA's vision.

Les Vagues, the first branded residential project in Qatar with interiors by ELIE SAAB, is valued at 1 billion Qatari rials. The start of main construction activity marks an important milestone for Les Vagues.

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