Dar Global has secured a new loan facility of up to $275m (£213m) from a consortium led by Emirates NBD to aid its expansion across multiple countries.
The new funding has been secured on a 42-month term at a “competitive fixed margin” over the Emirates Interbank Offered Rate.
The luxury residential developer said it planned to use the proceeds across several countries as part of its “strategic growth plan”.
Chief executive Ziad El Chase said: “This capital demonstrates the strong support we have from our parent company. It will allow us to take advantage of additional growth opportunities as we actively pursue a number of projects in our target markets, including the UAE, UK, US and Saudi Arabia.”
He added: “We continue to see sustained demand for our properties from buyers from over 100 nationalities, who are looking to invest in luxury homes in highly desirable international locations.”
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