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عربي

Dar Al Arkan Real Estate Development Company

   (4300.SSE)
Also known as: DAAR, Dar Al Arkan
Last Trade
9.05SAR
+ 0.56%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Updated: Mar 04, 2011
 
 
 
Country

Saudi Arabia

Ownership Type
Company Type
Joint Stock
 
 
 
 
Principal Activities
Real estate property investment, development and management; civil contracting for commercial and residential buildings.
 
Date of Establishment Year
1994 (December)
 
No of Employees
N/A (450 Company, N/A Group, 100 Headquarters) (As of Mar 02, 2011)
 
Branches
Jeddah Madinah Makkah
 
Stock Market Listing
Exchange Symbol ID Stock Type Currency
Saudi SE  4300 4300.SSE Ordinary SAR
 
 
Contact Details
Address:
Dar Al Arkan Building
Al Maather Road
P.O. Box 105633
Riyadh  11656
Saudi Arabia
 
Tel:
+966 1-206-9888
+966 1-206-1100
 
Fax:
+966 1-206-9898
+966 1-206-1616
 
Email:
info@alarkan.com
 
Website:
www.alarkan.com
 
Related Links:
www.shamsarriyadh.com
www.jeddahkhozam.com
www.alqasser.com
www.altilalproject.com

 
 
 IPO Details
Listing Date:
29Dec07
Size of Offering:
$892.61M
Equity Offering:
11.01%
Lead
Managers:
Samba Capital and Investment Management Company
 
 
 Sukuk Details
Sukuk Name:
DAAR Sukuk IV
Type of Structure:
Wakala
Issue Size (mil):
USD  450.00
 
Sukuk Name:
DAAR Sukuk II
Type of Structure:
Ijarah
Issue Size (mil):
USD  1,000.00
 
Sukuk Name:
DAAR International Sukuk
Type of Structure:
Ijarah
Issue Size (mil):
USD  600.00
Oversubscription:
0.41 x
 
 
 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  Section Updated: 13Sep11
Name   Type  Country  Holding 
Khaled Bin Abdullah Shalash Al Shalash  Private Saudi Arabia 9.10% 
Youssef Bin Abdullah Shalash Al Shalash  Private Saudi Arabia 7.70% 
Hazlol Bin Saleh Mohammed Al Hazlol  Private Saudi Arabia 6.20% 
Majed Bin Abdulrahman Abdulziz Al Kassim  Private Saudi Arabia 5.30% 
Other investors   - 60.69% 
Public   - 11.01% 
 
 
 Foreign Ownership Limits
Section Updated: 29Dec09
Owned Permitted
100%
GCC Nationals
 
49%
Foreigners
 
 
 
 Direct Investments and Related Entities 
Subsidiaries/Associates/Affiliates
Name  Country  Holding 
Dar Al Arkan Commercial Investment Company Saudi Arabia 100.00%
Dar Al Arkan Projects Company Saudi Arabia 100.00%
Dar Al Arkan Properties Company Saudi Arabia 100.00%
Dar Al Arkan Sukuk Company Saudi Arabia 100.00%
Sukuk Al Arkan Company Saudi Arabia 100.00%
Khozam Real Estate Development Company Saudi Arabia 51.00%
Investments
Name  Country  Holding 
Saudi Home Loans Saudi Arabia 15.00%
Developments and Projects
Name  Country  Holding 
Al Qasr Saudi Arabia -
Al Tilal Saudi Arabia -
Qasr Khozam [in Jeddah Central District] [via Khozam Real Estate Development Company] Saudi Arabia -
Shams Al Arous Saudi Arabia -
Shams ArRiyadh Saudi Arabia -
 
 
 Representatives
Auditors
Deloitte and Touche Bakr Abulkhair and Company Talal Abu-Ghazaleh Organization
Banks
Arab National Bank Samba Financial Group
Law Firms
Mohammed Al Sheikh Law Office  
 
 
 Financial Results  31-Dec-10  31-Dec-11   Yr on Yr 
  SAR'000 SAR'000 change (%)
Total revenues  4,141,981 3,312,510 (20.03)
Net profit  1,455,711 1,087,935 (25.26)
Total assets 23,348,861 24,100,759 3.22
Paid-up capital 10,800,000 10,800,000 0.00
Shareholders' Equity 14,234,887 15,322,822 7.64
Shares outstanding 1,080,000 1,080,000 0.00
Market capitalization 9,720,000 7,830,000 (19.44)
» View Full Financials