Dar Global posts 149% jump in 1H net income, Saudi anchors its 2026 pipeline

Dar Global’s net income more than doubled in 1H 2026, rising 149% y-o-y to USD 30.4 mn in as revenue climbed 66% to USD 258 mn, according to its earnings release (pdf). The gains came largely from revenue recognition on two projects: The Astera by Aston Martin in UAE’s Ras Al Khaimah and Neptune by Mouawad in the North of Riyadh, according to a press release.

The luxury developer’s portfolio kept expanding: Gross development value nearly doubled y-o-y to USD 23 bn, while cumulative contracted sales reached USD 3.9 bn across 4.4k units. The group closed the half with a net asset value of USD 613.3 mn and available liquidity of USD 579.3 mn.

Dar Global shored up its balance sheet in April, closing a USD 250 mn syndicated term loan from Emirates NBD to bolster liquidity, even amid regional tensions.

Saudi Arabia saw most of the action in 2026. Four of Dar Global’s five project launches this year landed in the kingdom, with Sea La Vie in Doha the only one outside it, per the earnings release (pdf). All four broke ground in the first half: Rayana in Riyadh’s Wadi Safar, and three in Jeddah — Amaya, Trump Plaza, and Padel Living Residences.

REMEMBER- Dar Global expects foreign buyers to account for about 30% of its Saudi sales as Saudi Arabia opens its residential property market to eligible international investors, CEO Ziad El Chaar previously told us. The developer already received expressions of interest for around 350 units worth USD 1-1.5 bn.