Dar Global, listed on the London Stock Exchange, announced that its net profits increased by 149 percent during the first half of 2026, reaching $30.4 million, compared to $12.2 million in the same period last year, driven by the growth in revenues from its real estate projects in the Gulf Cooperation Council countries, Europe, and the United Kingdom.
The company's preliminary unaudited financial results, issued on Wednesday, showed that its revenues rose by 66 percent, to reach $258 million during the six months ending on June 30, 2026, compared to $155.4 million in the same period in 2025.
The total profits of the Saudi subsidiary of Dar Al Arkan increased by 85 percent, reaching $87.7 million, with the gross profit margin improving to 34 percent, compared to 31 percent during the corresponding period last year. EBITDA also grew by 73 percent, to $46.3 million.
The company attributed this growth to proving revenues from a number of its real estate projects, most notably “The Astera” project, which features interior designs by “Aston Martin,” and the “Neptune” project, which features interior designs by “Mawad.”
In terms of the project portfolio, the total development value of Dar Global’s projects nearly doubled on an annual basis, reaching $23 billion, while cumulative contractual sales rose to about $3.9 billion, including 4,380 residential units.
The company's net asset value amounted to $613.3 million, while its total cash balances reached $847.9 million, including $231.6 million in free cash and $616.3 million restricted in escrow accounts, supporting a total available liquidity of about $579.3 million.
Dar Global expanded its business in Saudi Arabia by launching the “Rayana” project in partnership with the Trump Organization, on an area of 2.6 million square meters in Wadi Saffar in Diriyah, which includes luxury palaces and a golf course, with an infrastructure contract valued at 338 million riyals ($90 million). It also revealed the “Trump Plaza Jeddah” and “Paddle Living Residences” projects, with a development value of $383.6 million and $142 million, respectively, within the “Amaya” project.
In terms of financing, in April the company concluded a joint loan agreement worth $250 million to enhance its liquidity, while in August it appointed Gulf Asia Contracting Company to carry out the construction work of the “Trump International Hotel and Tower Dubai” project platform, which consists of 80 floors and a height of about 350 meters, after completing the preliminary work.
For his part, Ziad Al-Shaar, CEO of Dar Global, said that the group recorded a strong financial performance despite the exceptional circumstances witnessed in the region, benefiting from the diversification of its international real estate portfolio and the continued demand in the markets in which it operates.
Al-Shaar explained that cumulative contractual sales rose to about $3.9 billion by the end of June 2026, compared to about $3.2 billion in December 2025, noting that the completion of the joint loan facilities worth $250 million contributed to strengthening the company’s balance sheet and liquidity.
Chinese stocks moved within a limited range, on Wednesday, and headed towards recording sharp quarterly losses, after the latest stimulus measures announced by Beijing failed to convince investors of the imminence of a strong recovery in domestic demand.
On the other hand, the yuan continued to rise against the dollar, heading towards recording gains for the seventh consecutive quarter, supported by exporters converting their dollar revenues into the local currency.
The CSI 300 index of leading stocks rose 0.2 percent in morning trading, but remained close to the lowest level in a year that it recorded earlier in the week. The index is heading for a loss of about 13 percent during the third quarter, which is the largest since the closure measures related to the “Covid-19” pandemic in 2022.
The losses reflect investors' concern about an economy that is moving at two speeds. Industrial production and exports continue to show some strength, while consumption, investment and the real estate market remain under pressure.
On Tuesday, Beijing announced a set of measures to provide cheaper credit and support the housing market. The People's Bank of China cut the one-year collateralized supplementary lending rate by 25 basis points to 1.5 percent to support infrastructure investment, raised re-lending quotas for technology companies and small businesses, and provided mortgage support for some first-time buyers.
Duncan Wrigley, chief China economist at Pantheon Macroeconomics, said that the package is the broadest and strongest in two years, but it remains smaller than the easing announced in September 2024, stressing that it does not address the structural imbalances represented by weak domestic demand and heavy dependence on exports.
Consumer prices in Italy, according to the Harmonized Consumer Price Index, rose by 2.0 percent this September, compared to the previous month, bringing the annual inflation rate to 4.1 percent, from 3.2 percent in August, according to preliminary data issued Wednesday, in light of a sharp rise in energy costs due to unrest in the Middle East.
