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History

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A history of growth and achievement

Shortly after founding in 1994, through progressive leadership and smart investments Dar Al Arkan became a limited liability company in 2000, leading Saudi Arabia’s real estate sector thereafter. In 2005, the company transformed its systems and widened its ambitions, growing immensely to become a joint-stock company and laying the foundation for our market-leading status in the Middle East today.

Milestones from our illustrious history:

2017
  • Dar Al Arkan launches its first international project, I Love Florence Tower with Interiors by Roberto Cavalli in Dubai on December 12, 2017
  • Ziad El Chaar is appointed CEO on June 1, 2017
  • Sponsorship of the Construction Technology Conference
  • Dar Al Arkan executes eighth USD 500 million Sukuk; lists on Irish Stock Exchange and NASDAQ Dubai
  • Sales begin for housing units at the Parisiana South and Parisiana Living projects in Riyadh, and the Naeem El Jiwar project in Madinah
2016
  • Dar Al Arkan repays sixth Sukuk amounted to USD 300 million
  • Awarded “Largest Promising Residential Project in the Kingdom” (Juman Project) by Restatex
  • Awarded “Best Corporate Governance Company of the Year – MENA” by The European
  • Named “Real Estate Company of the Year - Saudi Arabia” by The European
  • Awarded “Best Corporate Governance in Saudi Arabia” by World Finance
2015
  • Dar Al Arkan repays fourth Sukuk issuance amounted to USD 450 million
  • Awarded “Best Residential Property Developer in the Saudi Arabia” prize by Euromoney
  • Recognized for “Innovation in Real Estate Development” by The Entrepreneur for Shams Ar Riyadh
  • Named “Real Estate Company of the Year in Saudi Arabia” by The European
  • Awarded “Best Corporate Governance Company of the Year – MENA” by The European
2014
  • Launched Juman project in the eastern region - an 8.2 million square-meter master-planned community on Dammam seafront
  • Awarded "First Place - Real Estate Development Sector in Saudi Arabia" by Forbes Middle East
  • Awarded “First Real Estate Company in the Middle East” by World Finance
  • Awarded “Best Corporate Governance Company of the Year – MENA” by The European
  • Recognized as the best company in “social responsibility” in Saudi Arabia” by The European
  • Dar Al Arkan repays third Sukuk issuance amounted to USD 200 million
  • Dar Al Arkan executes seventh USD 400 million Sukuk; lists on Irish Stock Exchange and NASDAQ Dubai
2013
  • Riyadh’s governor opens the Al Qasr Mall
  • Named “Best Residential Property Developer in the Saudi Arabia” by Euromoney
  • Awarded "First Place - Real Estate Development Sector in Saudi Arabia" by Forbes Middle East
  • Awarded “Best Corporate Governance Company of the Year – MENA” by The European
  • Awarded “Best Corporate Governance in Saudi Arabia” by World Finance
  • Awarded "First Commercial Project” for the Al Qasr Mall by Arabian Business
  • Becomes the first foreign institution with a credit rating from the Malaysian RAM Agency in Saudi Arabia (RAM Agency)
  • Dar Al Arkan executes fifth USD 450 million Sukuk; lists on Irish Stock Exchange and Nasdaq Dubai
  • Dar Al Arkan executes sixth USD 300 million Sukuk; lists on Irish Stock Exchange and Nasdaq Dubai
2012
  • Initial opening of Al Qasr Mall in Riyadh
  • Awarded “Best Residential Property Developer in Saudi Arabia” prize by Euromoney
  • Dar Al Arkan repays second Sukuk issuance amounted to USD 1,000 million
2011
  • Awarded the “Largest Residential Project in Saudi Arabia” (Al Qasr)
2010
  • Dar Al Arkan executes forth USD 450 million Sukuk; lists on London Stock Exchange
  • Dar Al Arkan repays first Sukuk issuance amounted to USD 600 million
2009
  • Dar Al Arkan raises its capital from SR 7.2 billion (USD 1.92 billion) to SR 10.8 billion (USD 2.88 billion)
  • Shams Al Arous project launches in Jeddah 
  • Dar Al Arkan executes third USD 200 million Sukuk
2008
  • Dar Al Arkan raises its capital from SR 5.4 billion (USD 1.44 billion) to SR 7.2 billion (USD 1.92 billion )
  • Custodian of the Two Holy Mosques opens the development of the Qasr Khozam area project
2007
  • Dar Al Arkan is listed on the Saudi Saudi Stock Market in Dec 2007
  • Dar Al Arkan executes first USD 600 million Sukuk lists on Nasdaq Dubai, Labuan International Financial Exchange, Malaysia and Bahrain Bourse
2006
  • Launch of  Shams Ar Riyadh project
  • Launch of  Al-Tilal project in Madinah (499 residential units)
2005
  • Dar Al Arkan converts to a joint-stock company under Ministerial Decree no. 1021 in July, 2005
  • Launch of Al Qasr project in Riyadh, the largest master-planned real estate development in the private sector
2004
  • Dar Al Arkan increases its capital to SR 5.4 billion (USD 1.44 billion) through a private placement in the domestic market
2003
  • Launched Ashbiliya project in Riyadh (649 residential units)
  • Launched Almounsiya project in Riyadh (259 residential units)
  • Construction begins on Al-Azizia Towers project (7 towers, 442 residential units)
  • Construction of 28 residential units at the Al-Manar residential project in Jeddah
  • Construction of 55 residential units in the Al-Awali Villas project in Makkah
  • Launched Al-Noor Villas project in Madinah (80 residential units)
  • Work begins on 168 residential units in the Golden Beach project in Jeddah
2002
  • Launch of Yarmouk project in Riyadh with 389 residential units
  • Work begins on 95 residential units in the Murjan Villas project in Jeddah
  • Construction of 42 residential units begins in the Al-Ta’awon project in Riyadh
  • Launched Al-Falah project in Riyadh (139 residential units)
  • Construction of 368 residential units in Al-Rabie project in Riyadh
2000
  • Dar Al Arkan becomes a limited-liability company with SR 140 million in capital (37 USD million)
1994
  • Incorporation of Dar Al Arkan Real Estate Development Company in Riyadh city, Kingdom of Saudi Arabia