Dar Al Arkan Real Estate Development Company is pleased to announce the Board of Directors resolution dated 28/12/2017 to approve offering 30% of Dar Al Arkan Properties Company (100% owned by Dar Al Arkan Real Estate Development Company). Samba Capital & Investment Management Company (Sambacapital) has been appointed as a financial advisor for this initial public offering (IPO). The company plans to file the offering application to the Capital Market Authority to obtain the approvals.
It is worth noting that Dar Al Arkan Properties Company is fully owned by Dar Al Arkan Real Estate Development Company and its main business is property management and leasing holding an income producing assets worth of SAR 2,680 million in different cities in the Kingdom. Further developments will be disclosed as soon as they become available.