Dar Al Arkan Real Estate Development Company<br />شركة دار الأركان للتطوير العقاري
 | |
| Public joint-stock company | |
| Traded as | Template:Tadawul |
| ISIN | 🆔 |
| Industry | Property development |
| Founded 📆 | 1994 |
| Founder 👔 | |
| Headquarters 🏙️ | Riyadh, Saudi Arabia |
Area served 🗺️ | |
Key people | Yousef Al Shelash (Arabic:يوسف بن عبدالله الشلاش) (Chairman) |
| Members | |
Number of employees | |
| 🌐 Website | Dar Al Arkan |
| 📇 Address | |
| 📞 telephone | |
Dar Al Arkan Real Estate (DAAR) (Arabic: دار الأركان) is a Saudi Arabian property development company. It is the largest developer by market value in Saudi Arabia.[1]
Based in Riyadh, it was established in 1994 by six business families with real estate development experience in response to the demand for housing from the rapidly growing Saudi population.
From July 2002 to January 2004, Dar Al Arkan operated as a limited liability company with a capital base of SAR 140 million (USD 37 million).
Dar Al Arkan increased its capital to SR5.4 billion (US$1.4 billion) through a private placement in the domestic market in 2004 while converting to a partnership limited by shares. Subsequent to the private placement, Dar Al Arkan converted to a joint stock company in 2005 (i.e. a company with a minimum of five shareholders who are restricted from selling their shares (except with respect to transfers to each other) for a period of at least two years and can be listed on the Saudi stock exchange). The founding shareholders own 70% of the company. In December 2007, the company listed its shares on the Saudi Stock Exchange (Tadawul All Share Index/ Real estate sector) under the symbol 4300.
As of 31 December 2016[2], Dar Al Arkan had total assets of SAR 24.4 billion (USD 6.5 billion), with shareholders’ equity of SAR 18.1 billion (USD 4.8 billion). Total revenues and net income reached SAR 1.8 billion (USD 0.48 billion) and SAR 249 million (USD 66.4 million), respectively.
In addition to its head office in Riyadh, Dar Al Arkan has offices and branches across KSA, including Mecca, Jeddah and Madinah. In total, Dar Al Arkan has seven branches and over 300 employees.
Previous projects[edit]
Ishbiliyah[edit]
The project is located east of the Eastern Ring between exit 9 and 10. It is formed of 420 villas.
Al Yarmouk[edit]
The project is located on the north east area of Riyadh city, near Ishbiliya project towards the north. It occupies an area of 409,775 square meters and consist of 389 residential units. Construction of the project was started in 2002. The cost of the project was 110,500,00 Saudi Riyals.
Al Munsiyah[edit]
The project is located ont the north east of Riyadh, near Dammam highway, 1 kilometer away from the Al-Yarmouk project. It occupies an area of approximately 285,822 square meters. Its residential section comprises 259 housing units. The total cost of the project was 127,700,000 Saudi Riyals.
Al Mourjan[edit]
The project is located in Yanbu city, near the sea in Al-Buhaeyra. The total area of the project is about 88,516 square meters. It consists of 95 residential units. The construction of the project started in 2002 . The construction was completed and sold out by 2006. The total value of the project is 52,100,000 Saudi Riyals.
Al Aziziah Towers[edit]
The project is located in Makkah city at a location on Aziziah street next to the Holy Mosque and the Jamarat (stoning area.) The project area is 64,621 square meters containing seven towers; each tower consisting of a 14 storey building. The total value of the project (the cost of the project) is 174,730,000 Saudi Riyals.
Al Abrar Towers[edit]
The project is located in Makkah Al-Mukarama, near the Holy Haram, and the stoning area, 3 kilometers from the Haram. It consists of 400 residential units, comprising eight towers. The total area of the project is 58.213 sq meters. The project's construction was started in 2003 and completed in 2006. The total value of the project is SAR 97,890,000.
Al Manar Residential[edit]
Al Manar residential project is located on the east of Jeddah City. It occupies an area of 25,143 sq meters. The project contains 28 residential units of four designs. The project's construction was started in 2003 and was completed in 2005. The total value was SAR 12,900,000
Al Awali Villas[edit]
The project is located in Al Awally residential area in Mecca. The project occupies an area of 41,168 sq meters. It consists of 55 residential units. The project's construction was started in 2003 and finished in 2006. The total value of the project is SAR 30,400,000.
Al Tawoun[edit]
The project is located north of Riyadh city near the Al-Rabie project. It occupies an area estimated at 30,506 sq. meters. It consists of 42 residential units distributed on four blocks. The construction work of the project started in 2002 and finished by 2005. The total value of the project was 18,400,000 Saudi Riyals.
Al Falah[edit]
The project is located to the north of Riyadh city, near the Al-Rabie project. It occupies an estimated area of 110,843 sq. meters. The project consists of 139 residential units. The project’s construction was started in 2002 and completed in 2006. The total value of the project was 49,100,000 Saudi Riyals.
Al Rabea[edit]
The project is located to the north of Riyadh city, and east of the Kingdom Hospital and Kingdom School. The project occupies an estimated area of 349,943 sq. meters. The total value of the project is 229,300,000 Saudi Riyals.
Al Noor Villas[edit]
The project is located an Al-Shifa plam in Al-Muzaiynib residential area in Al-Madinah Al-Manwarah, six kilometers from the Prophet Holy Masjid.
The project occupies an area estimated at 62,930 square meters and consists of 80 residential units, and villas (Duplexes). The development has six designs. The project contains a mosque and a public garden. The project’s construction was started in 2003 and finished in 2006. The total value of the project was 44,600,000 Saudi Riyal.
Al Shati AlZahabi (Golden Coast)[edit]
The project is located in Sharm Abhor in Jeddah province. It has an estimated area of 279,436 square meters and contains 398 residential units. The project is located near Jeddah International Airport, shopping centers, schools, and public gardens. The project construction started in 2004, and was completed in 2006. The total value of the project is 211,500,000 Saudi Riyals.″
References[edit]
External links[edit]
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