TIDMDAR
Dar Global PLC
30 August 2023
30 August 2023
Dar Global PLC
("Dar Global" or "the Group")
New Residential Development and Notice of Results
DAR GLOBAL AND MISSONI PARTNER TO LAUNCH MAREA, INTERIORS BY
MISSONI, THE EXCLUSIVE RESIDENTIAL DEVELOPMENT PROJECT IN THE SOUTH
OF SPAIN
-- Project valued at approximately EUR70 million GDV, bringing
Group's Spanish portfolio total to c. EUR350 million.
-- 18,500 sq m of development, with the projected completion date set for June 2027.
-- Follows significant interest for Dar Global's ultra luxury
Tierra Viva development in Marbella, launched in June this
year.
-- Showcases Dar Global's commitment to Europe and further
progress in delivering on its ambitious growth strategy across
international markets.
Dar Global, the luxury international real estate developer, and
Missoni are pleased to announce the launch of Marea, interiors by
Missoni, the exclusive residential development project located in
the exclusive community of Cortesin, Casares - a short distance
from the South of Spain's prime golf, equestrian, and beach
destinations including the city of Marbella and two of the
Mediterranean's most prominent marinas - Puerto Banús and
Sotogrande.
Following the launch of Dar Global's Urban Oasis Tower by
Missoni in Dubai, Marea, interiors by Missoni is the second
partnership with the luxury Italian fashion house. The project is
set to deliver a range of prime two, three and four-bed apartments,
situated in the immediate vicinity of the prestigious Finca
Cortesin hotel and golf club.
These contemporary Mediterranean residences will target
internationally mobile customers who seek out unique investment
opportunities in the luxury residential market. Dar Global's
partnership with Missoni marks significant progress on the Group's
growth and development journey as it continues to deliver real
estate projects comprising second and vacation homes across some of
the world's most desirable locations - such as the Costa del Sol
region.
Marea, interiors by Missoni is Dar Global's second project
launched in Spain in the past three months, having launched the
ultra luxury villas at Tierra Viva, in Benahavis in June this year.
With a combined project GDV of approximately EUR350 million in
Spain, Dar Global continues to penetrate the residential market in
the region, delivering on its ambitious global growth plans.
Commenting on the launch of Marea, interiors by Missoni, Ziad El
Chaar, CEO of Dar Global, said:
"We are thrilled to be partnering with world-renowned fashion
brand Missoni and to deliver exclusive residences in the highly
desirable location of Cortesin in the South of Spain. The launch of
Tierra Viva in June this year has seen strong demand from our
customers across Europe, the Middle East and Asia and consequently,
we are excited to provide the market with a second new and exciting
luxury living development in the region."
Livio Proli, Missoni CEO, commented:
"We're delighted to be working with Dar Global on the Marea,
interiors by Missoni real estate project, and are excited to be
furnishing these incredible apartments with the finest fabrics and
design, which will give the Mediterranean residences a unique and
original finish. Our creative team has come together to design
bespoke luxury interiors that perfectly compliment the apartment's
natural surroundings".
Notice of Results
In addition, the Company intends to announce its Half Year
financial results for the six months ended 30 June 2023 on 28
September 2023.
-ENDS-
For further enquiries, please contact:
Dar Global
May Chaker mchaker@darglobal.co.uk
Powerscourt +44 (0) 20 7250 1446
Justin Griffiths / Nick Dibden / Louisa darglobal@powerscourt-group.com
Henry
NOTES TO EDITORS
About Marea, interiors by Missoni
Marea, interiors by Missoni is the second of Dar Global's
projects in partnership with Italian luxury fashion house Missoni.
Located in the vicinity of Finca Cortesin on the Costa del Sol,
these exclusive residences are unique investment opportunities for
those customers looking for super-prime, luxury real estate in
Spain.
About Dar Global
Dar Global PLC 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 the South of 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 15,300
residential units with total assets of c. US$8.6 billion.
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 and London.
Dar Global was admitted to the Main Market of the London Stock
Exchange on 28 February 2023.
Please visit www.DarGlobal.co.uk
About Missoni
Missoni, renowned for its excellence in Italian fashion, was
founded in 1953 by Ottavio and Rosita Missoni. In 2018, a
partnership was formed with the Italian Strategic Fund in an effort
to further enhance the reputation and notoriety of the brand, as
well as the company's potential for significant growth.
www.missoni.it
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END
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