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| 23 May, 2018

Saudi Dar Al Arkan to repay $460mln sukuk Thursday

Dar Al Arkan also stated that it has bought back a part of the Islamic sukuk at a value of 101.7mln in 2017 and 2018

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

REUTERS/Fadi Al-Assaad

Riyadh –  Saudi Arabia-based Dar Al-Arkan Real-Estate Development Company has announced that it will repay sukuk at a combined value of SAR 1.687 billion ($450 million) to Nasdaq Dubai, due on Thursday, 24 May.

Dar Al Arkan also stated that it has bought back a part of the Islamic sukuk at a value of SAR 381 million ($101.7 million) in 2017 and 2018, the real estate firm said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The Saudi real estate developer transferred the remaining principal and profits to the accounts, the statement showed.

Source: Mubasher

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