International Real Estate developer Dar Global has acquired a prime 28,800 sqm land for $1 billion mixed use project in Jeddah.
The development is due to feature residences, serviced apartments, retail, and offices near key lifestyle and entertainment areas.
It aims to become a landmark destination and shape Jeddah’s future as a global hub for living and investment, aligning with Saudi Vision 2030 goals.
Acquiring Land for Dar Global Project
In a significant move that underscores its commitment to luxury real estate, Dar Global has recently acquired a prime 28,800 square meter plot in Jeddah, Saudi Arabia.
This acquisition marks a pivotal step in the company’s strategy to enhance the urban landscape of Jeddah, aligning with the broader objectives of Saudi Arabia’s Vision 2030 initiative.
With an estimated gross development value of $1 billion, this project represents a significant investment in Jeddah’s future. The financial backing reflects Dar Global’s confidence in the potential of the local real estate market and its commitment to delivering high-quality developments.
Location of Mixed Use Project
The site of the new development is strategically located near Jeddah’s key lifestyle and entertainment areas. This prime positioning ensures that residents will have easy access to shopping, dining, and recreational facilities, making it an attractive option for both locals and expatriates.
In addition to its proximity to lifestyle amenities, the development will benefit from excellent transportation links. This connectivity is essential for fostering a thriving community and attracting businesses to the area.
Key Features of Project
The mixed-use project will encompass a variety of offerings, including:
- Premium Residences: High-end living spaces designed to cater to the needs of modern families and individuals.
- Serviced Apartments: Fully furnished units that provide flexibility for short-term and long-term stays.
- Retail Spaces: A diverse range of shopping options that will enhance the lifestyle experience for residents and visitors alike.
- Office Facilities: Modern workspaces that support the growing business community in Jeddah.
Enhancing Jeddah’s Urban Fabric
The development is poised to play a crucial role in reshaping Jeddah’s urban landscape. By integrating residential, commercial, and recreational spaces, Dar Global aims to foster a vibrant community that attracts both residents and investors, enhancing the city’s appeal and contributing to its economic growth.
Aligning with Saudi Vision 2030
Saudi Arabia’s Vision 2030 is an ambitious framework aimed at diversifying the economy and reducing the kingdom’s dependence on oil. This initiative seeks to transform urban areas into global centers for business, investment, and modern living.
Dar Global’s new project is a direct response to this vision, aiming to create a landmark destination that embodies the principles of sustainable development and architectural excellence.
Shaping Jeddah’s Landscape
Dar Global’s acquisition of a prime plot in Jeddah for a landmark mixed-use development represents a significant milestone in the company’s journey.
By aligning with Saudi Arabia’s Vision 2030 and focusing on sustainable, community-oriented design, this project is poised to become a cornerstone of Jeddah’s urban landscape.
More Hospitality Projects in Jeddah
IHG’s Kimpton and Even Hotels
IHG Hotels & Resorts has partnered with Koushan Real Estate to build Kimpton and Even Hotels at King Abdullah Sports City in Jeddah by 2028.
The Kimpton is due to offer 330 luxury rooms with luxury dining and wellness amenities and the Even Hotel will feature 255 rooms with active lifestyle facilities.
This project aligns with Vision 2030’s goals to boost Saudi Arabia’s tourism and sports infrastructure ahead of the 2034 FIFA World Cup.
Jeddah Trump Tower
Trump Organization and Dar Global have introduced the launch of the Jeddah Trump Tower Project
Eric Trump, son of the President-elect Donald Trump, has shared an exclusive video offering a glimpse of the upcoming Trump Tower in Jeddah, Saudi Arabia.
In collaboration with Dar Global, the project envisions a blend of top-tier luxury and the stunning Red Sea scenery Jeddah is known for.
This venture seeks to elevate Jeddah’s luxury hospitality standards while drawing global investors to Saudi Arabia.
Voco Jeddah Gate
Voco Hotels, a member of IHG Hotels & Resorts’ upscale collection, has unveiled the opening of Voco Jeddah Gate in the lively Fayhaa District.
Located close to the famous Jeddah Corniche and only 25 minutes away from King Abdulaziz International Airport, the hotel boasts 706 stylish rooms and a grand ballroom that can accommodate 700 guests.
Additionally, guests can enjoy a 20-meter outdoor pool and 6 dining options offering Arabic, Turkish, and Moroccan cuisine.
Jeddah Edition Hotel
The new Jeddah EDITION Hotel, the first of its kind in Saudi Arabia, has officially opened its doors to guests.
Situated on the picturesque Jeddah Corniche, the five-star hotel is near the Jeddah Yacht Club & Marina and the Jeddah Formula 1 track. Boasting 63 rooms, 11 suites, and personalized services, the Jeddah EDITION hotel offers stunning views of the Red Sea.
This opening is a testament to the expanding hospitality scene in Saudi Arabia, providing travelers with opulent and unforgettable experiences.
Four Seasons Largest Suspended Bridges
Four Seasons Jeddah has Introduced the Middle East’s Longest Suspended Bridges in Jeddah.
Stretching 60 meters and hanging 130 meters above sea level, these remarkable bridges are set to secure a place in the Guinness World Records. Built to link the towers, the bridges span eight floors and aim to transform Jeddah’s skyline.
The development will include 249 guest rooms, 21 serviced apartments, and 76 private residences, all featuring outdoor terraces with breathtaking views of the Red Sea.
Jeddah Raffles Hotel and Residences
Jeddah is preparing to launch the first Raffles Hotel and Residences in Saudi Arabia, strategically located on the Jeddah Corniche.
Raffles Jeddah will consist of 142 rooms, suites, 120 branded residences, 3 world-class restaurants, and a spa. The 48-story private tower will offer luxurious 3, 4, and 5 bedroom residences with unique mashrabiya screens.
This new addition to Jeddah’s hospitality scene, Raffles Residences Jeddah, is expected to set a new standard for luxury and transform the city’s iconic skyline.
Millennium Jeddah Hotel
The first hotel of Millennium Hotels and Resorts MEA is set to launch in Jeddah at the end of this month.
This 5-star hotel, Millennium Jeddah Hotel, will be just a 2-minute drive from Al Hamra Beach and 24 km from King Abdul Aziz International Airport.
It will boast 252 lavish rooms and suites, a fitness center, an outdoor pool, and various dining choices.
This addition will make Millennium’s 9th hotel in Saudi Arabia, and they have three more properties planned to open in 2024.
Jeddah Balad Heritage Hotels
After meticulous restoration, the first three heritage hotels in Jeddah’s Historic District have finally opened to the public.
These hotels, Beit Jokhdar, Beit Al-Rayes, and Beit Kedwan, were carefully restored following UNESCO’s guidelines. In 2014, UNESCO recognized and awarded the Jeddah Historic District, also known as Al Balad World Heritage Site.
These hotels proudly display historic Jeddah’s remarkable architecture and skilled craftsmanship, and guests can enjoy the authentic flavors of local Saudi cuisine at on-site restaurants. Prices for a night’s stay start at 5000 SAR.
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