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DarGlobal Sales Hold in Saudi Arabia but Fall in Dubai and Doha Amid Iran War
DarGlobal CEO Ziad El Chaar said demand for luxury homes stayed strong in Saudi Arabia and Spain this year. The Iran war reduced purchases in Dubai and Doha, with some buyers seeking 30% discounts that the developer rejected.
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DarGlobal said sales of its luxury properties in Saudi Arabia have remained robust this year even as the Iran war reduced purchases of high-end homes in Dubai and Doha. CEO Ziad El Chaar told Semafor that sales in Saudi Arabia and Spain are still holding up, while some foreign buyers paused deals elsewhere in the Gulf.
Dubai had been the world’s largest market for homes above $10 million before the war, according to Knight Frank.
El Chaar said some buyers have asked developers for 30% discounts, but DarGlobal will not grant them. The company’s projects in Jeddah and Riyadh continue to attract buyers, most of them Saudi citizens, after the kingdom passed a 2026 law allowing foreign real estate ownership.
DarGlobal, founded in 2021 and listed on the London Stock Exchange, has a $23 billion portfolio across 14 cities in nine countries and about 6,100 units under construction.
It partners with 14 brands, including the Trump Organization, which accounts for roughly 13% of the portfolio through projects in Oman, Qatar, Saudi Arabia, and the UAE. El Chaar said buyers of Trump-branded homes are not deterred by political controversies, describing the brand as one of luxury and high awareness.
Semafor reported that Gulf companies paid almost $300 million to President Donald Trump’s businesses in 2025, with around $40 million tied to real estate licensing deals in the four countries where DarGlobal operates Trump-branded projects.
