Dar Global expands in Oman with USD 4.2 bn development: Saudi developer Dar al Arkan’s Dubai-headquartered international arm Dar Global partnered with Art District Real Estate Development to launch an USD 4.2 bn mixed-use coastal development in Oman, according to a press release.

The details: The Muscat Marine, Art & Digital District (MAD) will cover 1.5 mn sqm and is set to be completed over several phases spanning 12 years. The project will include oceanfront residential communities, luxury hotels, retail, finance and business hubs. It is targeting global investors, art collectors, entrepreneurs, and tech founders.

The USP? A digital ecosystem: The development will also see the two set up a development ecosystem covering the whole district. The system will handle digital licensing, asset exchange, and investment initiatives across MAD to streamline business operations and attract investors.

Dar Global has been busy recently: Last month, the developer partnered with the Trump Organization to build the world’s first tokenized hotel development project in the Maldives, building on its existing tieup’s with the organization including the Trump Towers in Dubai and in Jeddah. Earlier in the year, Dar Global also increased a financing facility by USD 165 mn to USD 440 mn to boost its project pipeline across the Middle East, Europe, and North America.

On the home front, it awarded an AED 201.5 mn main works contract in July for its AED 900 mn development on Ras Al Khaimah’s Al Marjan Island, and also launched an AED 1.4 bn residential project in Dubai earlier in the year.

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