|26 July, 2018

Dar Al Arkan Real Estate Development Company announces the resignation of CEO; appointment of new CEO

Kelvin Kwok as the new Chief Executive Officer (CEO) of the Company, effective 01/09/2018.

Dar Al Arkan Real Estate Development Company announces the decision of the Board of Directors issued on 24/07/2018 to accept the resignation of Mr. Ziad El-Chaar from his position as Chief Executive Officer (CEO) of the company dated 23/07/2018, effective 01/09/2018 for personal reasons.

Mr. Ziad El-Chaar also retains his current position as an adviser to the Board of Directors and a member of the Board over its current session ending on 23 June 2019.

The Chairman, the members of the Board of Directors and all the employees of the Company, expressed their gratitude for Mr. El-Chaar who showed remarkable efforts in the management and development of the company.

The Company also announces the Board of Directors' resolution issued on 24/07/2018 to appoint  Mr. Kelvin Kwok as the new Chief Executive Officer (CEO) of the Company, effective 01/09/2018.

Mr. Kelvin holds a Master's degree in Business Administration from Cranfield University in the UK and has a distinguished career and extensive experience in real estate and financial investments management.

Mr. Kelvin brings over 20 years of experience in the Saudi Market and held several positions, most recently CEO of Emaar Middle East in Saudi Arabia, where he led the execution and delivery of mega real estate projects ranging from residential to commercial complexes in Saudi Arabia.

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