Al-Shelash: our strategy to foster revenues from income-generating fixed assets achieves noticeable success
Dar Al Arkan Real Estate Development Company, headquartered in Riyadh city, announced that it is acting on the conclusion of more strategic partnership agreements aiming to consolidate the presence of large international companies and renowned brands at its mall of Alqasr project in Riyadh city.
In that concern, the company's chairman of BoD Mr. Yousef Al-Shelash cited that Dar Al Arkan is negotiating the conclusion of significant contracts with agents of large companies at the Kingdom and global levels to be present at Alqasr Mall. This orientation, he claimed, is part of the company's strategy to boost its income-generating real estate assets as a third source of revenue, ensuring that the DAAR's plan to diversify its sources of income and enhance a sustainable flow of revenues is attaining noticeable success. This, in its turn, will enable the company to keep on the implementation of its major development projects, beside fostering its capacity to be accountable to take part in the implementation of the state's plans aimed to provide housing for Saudis in the foreseen future.
The company has declared in a press statement that it has signed a new agreement with Dana Trading Group, which stands as one of the biggest retail companies in the Kingdom, agents of world fashion brands. the agreement asserts the Group lease of a commercial space at Alqasr Mall for showcasing the elegant products of its enfranchisers to the Mall shoppers.
According to the agreement signed by His Excellency Mr. Yousef Al-Shelash, Chairman, on behalf of Dar Al Arkan, and His Royal Highness Prince Abdulrahman Bin Khalid Bin Masaad Bin Abdulaziz, on behalf of Dana Group, the latter will showcase its renowned fashion products of international brands including: Mango, Blanko, Fridys project, ADK at Alqasr Mall which will entertain these stylish brands to meet the smart needs of its shoppers.
Mr. Al-Shelash has gladly expressed his cheers for the success of Dar Al Arkan to tempt large national and international companies into investing in Alqasr Mall, emphasizing that this step and the same taken before come under DAAR's strategy to make the best of products and brands available at its mall. He ensured the noticeable attentiveness of big companies to find an investment room at Alqasr Mall with its unique location positioned in a promising district south of Riyadh city center, an area that suffered a bit of the lack of shopping centers existing in other parts of the city.
Moreover, Mr. Al-Shelash considered the engagement of Dana Group an added value and a magnetism for Alqasr Mall as it represents celebrated trade marks. Dar Al Arkan has, therefore, acquired a new strategic partner beside other success partners.
Commenting on this agreement, Dana Group officials stated that they feel proud of the Group's presence at Alqasr Mall which they perceive one of the most prominent shopping centers in the city of Riyadh. They consider their company as a pioneer in fashion sector for more than 25 years whereby they brought into the country the most famed brands and fashions. They further added that this agreement is part of the Group ongoing expansion throughout the Kingdom.
Beforehand, Dar Al Arkan had concluded lots of similar agreements with: Swatch and Al Homaidhi for watches , Nectar and Body Shop for cosmetics, Abdulsamad Al Qorashi and Al Dakheel for eastern perfumes. Adding to its last agreements with Abdulmuhsin Al Hokair Group for amusement and Carrefour for hypermarkets.
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© Press Release 2011
