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Mon, 09 Nov 2009 | 18:49 GMT

Dar Al Arkan Real Estate Development Company   (4300.SSE)
Also known as: DAAR, Dar Al Arkan
Last Trade
16.25 SAR
+ 0.93%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Mar 31, 2009
 
Joint Stock
 
 
Real estate property investment, development and management.
1994 (December)
421 (As of Mar 31, 2009)
Al Khobar
Jeddah
Madinah
 
Makkah
 
 
 
 
4300 
Ordinary 
SAR 
 
 Key Officers
Youssef Bin Abdullah Shelash Al Shelash
Chairman
Abdullatif Bin Abdullah Shelash Al Shelash
Director and Managing Director
 
 Contact Details
Address:
Dar Al Arkan Building
Al Maather Road
P.O. Box 105633
Riyadh 11656
Saudi Arabia
 
+966 1-206-9888
 
+966 1-206-9898
+966 1-206-1616
 
info@alarkan.com
 
www.alarkan.com
 
www.manazelco.com
www.shamsarriyadh.com
www.alqasser.com
www.altilalproject.com

 
  Latest Headline
EFG-Hermes: Saudi Real Estate Sector (19-Oct-09) - EFG Hermes
 
  IPO Details
Listing Date:
29Dec07
Size of Offering:
$892.61M
Equity Offering:
11.01%
Lead
Managers:
Sambacapital
 

  Sukuk Details
Sukuk Name: DAAR Sukuk II
Type of Structure: Ijarah
Issue Size (mil): USD  1,000.00
» View Sukuk Profile & Prices
Sukuk Name: DAAR International Sukuk
Type of Structure: Ijarah
Issue Size (mil): USD  600.00
Oversubscription: 0.41 x
» View Sukuk Profile & Prices
 
  Business Overview
Dar Al Arkan Real Estate Development Company (DAAR) specializes in residential real estate property investment, development and management in Saudi Arabia.

The company develops small and large scale residential communities like Shams ArRiyadh (Riyadh View), valued at SAR6 billion (USD1.6 billion) and covering the development will cover an area of 5 million sq. m (53.8 million sq. ft.), is due for completion in 2011.

DAAR is the largest real estate developer in Saudi Arabia, with SAR5.61 million (USD1.5 million) in 2008 total revenues. The company's 2008 revenues grew by 13.9% from 2007 mainly due to a 28% increase in its land sales revenues. The company generated 82% of its 2008 revenues from land sales (compared to 73% in 2007), and earned the remaining 17% from its residential sales (compared to 27% in 2007).

DAAR underwent an IPO on TadawulTadawulLoading..., in December 2007, which raised SAR3.33 billion (USD890 million). It also issued two Sukuks, in July 2007, to fund projects and offer low cost financing. The first is the SAR2.25 billion (USD600 million) DAAR International Sukuk, and the second is the SAR3.75 billion (USD1 billion) DAAR Sukuk II.

To complement its core business, DAAR established the SAR2 billion (USD534 million) Saudi Home Loans CompanySaudi Home Loans CompanyLoading..., in December 2007, to provide Shariah compliant home loans.
 
 
 Major Shareholders
This Requires Subscription
 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Dar Al Arkan Investment Company Saudi Arabia 100.00%
Dar Al Arkan Projects Company Saudi Arabia 100.00%
Dar Al Arkan Properties Company Saudi Arabia 100.00%
Khozam Real Estate Development Company Saudi Arabia 51.00%
Investments
 
Name  Country  Holding
Saudi Home Loans Company Saudi Arabia 15.00%
Developments and Projects
 
Name  Country  Holding
Al Dahira Project Saudi Arabia 100.00%
Al Mashaer Towers Saudi Arabia 100.00%
Al Qasser Residence Saudi Arabia 100.00%
Al Tilal Saudi Arabia 100.00%
Ishbiliyah Saudi Arabia 100.00%
Shams ArRiyadh Saudi Arabia 100.00%
Al Shati Al Zahabi [Golden Coast] Saudi Arabia -
Khozam Palace Area [in Jeddah Central District] Saudi Arabia -
Shams Al Arous Saudi Arabia -
Related Organizations
 
Name  Country  Holding
DAAR Sukuk Saudi Arabia -
Dar Al Arkan International Sukuk Company Saudi Arabia -
 
 
  Representatives
Auditors
Talal Abu-Ghazaleh Organization
Deloitte and Touche Bakr Abulkhair and Company
Banks
Arab National Bank
Samba Financial Group
Law Firms
White and Case
Mohammed Al Shaikh
 
 Summary Financials
This Requires Subscription
 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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