DUBAI- Saudi Arabia's Dar Al Arkan Real Estate Development Co has mandated banks to arrange meetings with fixed-income investors from Monday in the United Arab Emirates and London ahead of a planned 7-year sukuk issuance, a lead manager said.

The Saudi company has hired Alkhair Capital, Citigroup, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Mashreqbank , Nomura , Standard Chartered Bank and Warba Bank as joint lead managers and bookrunners, the lead manager said in a document seen by Reuters.

A seven-year, U.S. dollar fixed-rate benchmark senior unsecured sukuk offering will follow, subject to market conditions, it said.

(Reporting by Saeed Azhar) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))