INVEST IN LUXURY
Company at a Glance
Dar Global 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. Dar Al Arkan is the major shareholder in Dar Global. 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 is different to many other developers for three key reasons:
The Group focuses on second homes, typically in prime locations in the Middle East and Europe, where there is strong and resilient demand from affluent customers who are less impacted by the macro-economic environment.
It operates a capital light business model with some of its projects based on joint development agreements with landowners, with projects financed mostly through units pre-sold off plan, private placement proceeds and targeted debt funding. This enables the Group to accelerate its growth and achieve better returns.
The Group also develops and markets properties in partnership with global luxury brands such as W Residences, Missoni and Pagani. The Company believes that this approach can deliver increased sales volumes at a premium over non-branded properties.
Strategy
Find and Develop New Residential and Commercial Projects:
The Group has expanded its project portfolio from one in 2021, when Dar Al Arkan Global Real Estate Development LLC was incorporated in Dubai, to eleven, four of which are located in Dubai, three in Spain and one each in Oman, Qatar, the United Kingdom and Bosnia. In addition, the Group is currently in discussions regarding a number of residential or residential and commercial projects and this pipeline provides strong support to the prospects for the Group for the near-and mid-term future.
New Focus on Hospitality Projects:
In addition to its primary focus on second homes, the Group intends to also focus on hospitality assets to establish a new revenue stream and thus achieve greater diversification of income streams. The aim is to acquire or build hotels and sell them after a period of three to five years of operation once such hotels’ or resorts’ revenue stream stabilises. Target markets include Dubai, Maldives, Athens, Marrakesh and London.
Continue to Grow Internal and External Distribution Networks:
The distribution network is a key component of the Group's business. Currently, a significant majority of residential units in the Group's projects is sold through brokers. The Group already can rely on an extensive network that consists of over 5,000 brokers in more than 40 countries. The Group's long-term goal is to expand this network further by increasing the number of brokers with which it works on a regular basis to approximately 10,000. But the key strategy in this respect for the Group is to expand its internal marketing and sales capabilities in parallel with the growth of the Group's operations.
Investment Case
Committed bench of management professionals
Access to a unique portfolio of luxury second homes
Capital light business model enabling rapid scale and better returns
Opportunity to tap into an affluent investment-oriented customer base
Product differentiation achieved through valuable partnerships with global brands
Compelling pipeline of investment opportunities under consideration
LEADERSHIP TEAM
Ziad El Chaar
Chief Executive OfficerZiad El Chaar is the Chief Executive Officer of the Company, having joined the Group in May 2017. Ziad leads all the operations and businesses of the Group in different countries. With over 20 years of experience in real estate development and investment, with full management responsibility for revenue growth and profitability, and 10 years’ experience and responsibility in corporate governance, board affairs and regulatory compliance, Ziad has a proven track record of achievement. Prior to joining the Group, Ziad was the CEO -Ventures and Business Development at Emaar Properties PJSC, CEO at Dar Al Arkan Real Estate Development Company PJSC, and Managing Director and Executive Director on the board of directors of the publicly listed DAMAC Properties, during which he focused on operational achievement and the companies’ development and strategic plans. Ziad holds a Master’s degree in Business Administration from the American University in Beirut.
Bilal Al Matarneh
CEO - Development, Construction and ProcurementBilal Matarneh is the Chief Executive Officer - Development, Construction and Procurement at the Company, having first joined the Group in November 2019. Bilal leads the technical and project teams in UAE, Qatar, Oman, United Kingdom, Spain, and Bosnia. Bilal brings strong managerial and people skills to project delivery with an exemplary record of delivery of multiple projects contemporaneously, with the emphasis on completion on-time and within budget. Prior to joining the Group, Bilal was CPO at Emaar Properties PJSC, Executive VP for Projects at DAMAC Properties delivering major master development projects and was also CEO at ASTRA Group.
Shivaraman Iyer
Chief Financial OfficerShivaraman Iyer is Chief Financial Officer of the Company, having joined the Group in June 2022. Shivaraman brings over 38 years of rich international working experience to the Group as Chief Financial Officer, overseeing financial operational performance, investment strategy, portfolio management and group restructuring. In a wide-ranging international finance career prior to joining the Group, Shivaraman has held leadership and senior management roles with several prominent organizations, including SVP Finance at the DAMAC Group, CFO at Aldar Laing O'Rourke LLC and at Al Raha International LLC. He possesses sector-wide financial and operational expertise in real estate development, property and asset management, and contracting in UAE, India, Qatar, Russia and Hungary.
Redwan Zaouk
Chief Operating Officer - UKRedwan Zaouk is the COO of UK Operations at the Company, having joined the Group in 2020. Redwan has more than 15 years of experience in real estate development and more than 10 years of managerial experience within real estate companies. Redwan's management roles includes previous roles as a member of the Board, Audit Committee, Corporate Governance Committee and Remuneration Committee at Al-Tajamouat for Touristic Projects Plc, Senior Vice President at Damac Properties, COO at EMAAR Middle East, Development Director at Kinan International Real Estate Development Company, and Head of Business Development at The Savola Group. Redwan holds a Bachelor's degree from the University of Balamand in Lebanon. He is also a graduate of McGill University's Graduate School of Management - KEC Project.