DarGlobal, a London-listed real estate developer, has awarded an SR338m ($90m) contract for primary infrastructure works at the Rayana master community to Compass and Bin Omairah Company.
The project is situated in Wadi Safar, Diriyah, one of Riyadh’s high-profile districts.
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The design-and-build contract covers initial works across the Rayana development, including earthworks, utility networks, roads and site access.
The infrastructure is expected to lay the groundwork for the residential area, which will include Rayana Mansions and branded Trump Mansions. These residences will have built-up areas between approximately 1,900m² and 7,000m².
DarGlobal CEO Ziad El Chaar said: “The award of this infrastructure contract represents an important step forward in the delivery of Rayana and reinforces our commitment to creating exceptional residential destinations in Saudi Arabia.
“As one of the most exclusive communities within Wadi Safar and the world, Rayana has been conceived around privacy, scale and a highly curated lifestyle experience. This milestone demonstrates the continued momentum of the project and our confidence in the long-term growth of the Kingdom’s luxury real estate sector.”
The infrastructure contract is positioned as an advancement for the Rayana community and is also linked to the objectives of Saudi Arabia’s Vision 2030 development programme, aiming to attract local and international investment to the residential real estate sector.
Rayana’s location is in proximity to Diriyah, Expo 2030, King Abdullah Financial District, and other growth corridors in Riyadh.
Marking five years since its first project in Dubai, DarGlobal reports expansion across Saudi Arabia, Oman, the UAE, Qatar, Greece, Spain and the UK.
The company states that its development portfolio has reached $23bn and now serves investors from over 125 nationalities.
DarGlobal’s financial results for FY2025 show a Gross Development Value rise from $7.5bn in FY2024 to $23bn, and a revenue increase of 124% to $539m.
EBITDA for the period was reported at $126m, with some 6,100 units under construction in 16 projects. Cash and cash equivalents totalled $702m as of December 2025, and a $250m financing facility has been secured.
Recent activities include expanding into hospitality and entertainment, developing golf-focused destinations, and launching an asset management platform, DarGlobal Capital Partners.
DarGlobal also notes its upgrade to the ESCC category on the London Stock Exchange and outlines future plans in asset management, hospitality and technology-enabled real estate developments across Muscat, Jeddah, Riyadh, southern Spain, and a large-scale project in Greece.
