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In an era where the landscape of real estate is evolving rapidly, Ziad El Chaar, CEO of Dar Global — the international arm of Dar Al Arkan — is steering the company towards a promising future. With initiatives ranging from the recent launch of Trump Tower Dubai to the exploration of tokenized real estate, El Chaar’s vision embodies innovation and adaptability. He shares insights on investor-centric strategies, the brand-driven development approach, and the importance of sustainability.
Strategic Partnerships: The Trump Factor
“This is an exciting time, especially with the project involving the Trump Organization,” El Chaar notes. The collaboration stems from a legacy that stretches over 31 years with the parent company, Dar Al Arkan, culminating in the birth of Dar Global four years ago.
With an ambitious goal of becoming one of the top 50 global real estate developers, Dar Global’s strategic maneuvers include public listing on the London Stock Exchange in 2023 and a target revenue of close to $3 billion. Winning partnerships with globally recognized brands is pivotal for maximizing returns, particularly the Trump brand, which offers premium appeal.
El Chaar highlights previous successes, such as the Trump-branded residences in Muscat, attracting a diverse clientele from over 50 countries. Another notable project is a 47-story tower in Jeddah featuring a members-only club — both indicative of the global interest and shifting dynamics in the Saudi real estate market.
Finding Competitive Edge in Dubai’s Market
When discussing the competitive nature of Dubai’s real estate market, El Chaar emphasizes the importance of location. Trump Tower is strategically situated on Sheikh Zayed Road, offering easy access to Downtown Dubai while sidestepping heavy traffic.
“The views are stunning,” he remarks, referencing the iconic Burj Khalifa and the serene sea vistas. Additionally, the plan includes hospitality enhancements, like the Trump Hotel brand and the world’s highest outdoor swimming pool, delivering an unparalleled residential experience.
“Our promise is to consistently outperform the market — not with hype, but with delivery and design that attract strong returns,” he asserts, underscoring Dar Al Arkan’s robust 31-year history.
Embracing Technology and Sustainability
On the topic of tokenization — a concept he has championed since 2018 — El Chaar expresses his deep commitment to this innovation. He believes Dubai’s diverse investor landscape is conducive to tokenized real estate, although success hinges on creating a robust exchange platform akin to the Dubai Financial Market.
Sustainability is equally important to Dar Global’s mission, with compliance to FCA guidelines and a consistent push to exceed local standards in ESG delivery. El Chaar sees sustainability as integral not just for regulatory compliance but for future-proofing the company’s developments.
Branded Residences: A Key Differentiator
Dar Global currently boasts partnerships with 14 branded residences, with El Chaar explaining that the strategy is inherently investor-focused. By developing in high-demand international cities, they cater to a clientele that desires exclusivity and luxury.
El Chaar states, “These global names help us offer something unique in each city,” creating a product that stands out in competitive markets. The intertwining of respected brands and luxury locations results in offerings that are both exclusive and perpetually sought after.
Expanding Global Footprint
The conversation then shifts towards the international market. El Chaar indicates that markets such as Doha, Moscow, and southern Spain are thriving, reflecting a strategic focus on cities with broad international demand. He notes that many investors are keen to diversify their portfolios across different locations.
While there’s potential for expansion into new markets, Dar Global’s approach emphasizes growth in established cities before venturing into new development setups, ensuring costs are manageable and returns remain strong.
Leadership Principles: Focus and Value
For El Chaar, success hinges on maintaining a sharp focus. “We don’t do everything. We chose a path — luxury real estate in international cities,” he states. Each project undergoes rigorous evaluation to ensure it serves the interests of investors and aligns with the company’s operational capacity.
This principles-driven leadership nurtures a culture of accountability, ensuring every development is pursued with a clear purpose.
Navigating a Volatile Market
El Chaar offers advice to fellow real estate leaders: “Focus on scarcity.” He explains that in real estate, distinguishing your product in a crowded market is essential. Unique offerings, whether through exclusive locations or innovative designs, can significantly enhance a project’s success.
“If you’re not unique or cost-efficient, don’t enter this business,” he cautions, highlighting the necessity of strategic planning in today’s complex real estate environment.
Work-Life Balance: A Personal Perspective
Despite the demands of being a CEO, El Chaar holds a profound belief instilled by his parents: work diligently and embrace the time you have outside of work. He emphasizes the importance of dedication, even in a demanding industry, balancing professional responsibilities with personal commitments.
Reflections on Growth
Reflecting on his initial experiences within Dubai’s real estate scene, El Chaar is impressed by the rapid advancements over the last two decades. His journey encapsulates a broader narrative of industry evolution, marked by innovation, resilience, and aspirations for a sustainable future in real estate.
