Dar Al-Arkan Real Estate Development Company (DAAR) is the largest construction company in the Kingdom of Saudi Arabia. Dar Al-Arkan Real Estate was founded in 1994. Dar Al-Arkan is engaged in the acquisition, design, and construction of buildings.
Maintenance of buildings, demolition, and reconstruction of residential and commercial buildings is one of Dar Al-Arkan's primary activities.
The largest Saudi real estate developer Dar Al-Arkan Real Estate was created in 1994 by six business families, who joined their capital to conduct a common business. The main office is located in Riyadh.
Dar Al-Arkan Real is not only involved in the construction of buildings. The company also designs buildings, carries out the reconstruction and modernization of dilapidated premises. The maintenance of residential and commercial premises is within the scope of the company.
The fantastically developing economy and population growth of the Kingdom of Saudi Arabia requires a grand construction of housing and office space in the country.
From 2002 to 2004, Dar Al-Arkan had the status of a limited liability company with a capital of 140 million riyals. This amount corresponded to 37 million US dollars.
In 2004, Dar Al-Arkan decided to place its shares in the domestic market and was transformed into a limited liability partnership. As a result of the placement of securities on the stock exchange, Dar Al-Arkan Real increased its capital to $1.4 billion.
In 2005, Dar Al-Arkan became known as a joint-stock company. It meant that the company had at least five shareholders, who were forbidden to sell or transfer their shares to anyone outside for not more than two years.
Other shareholders of Dar Al-Arkan was the exception. The agreement between the shareholders of Dar Al-Arkan stated that all financial transactions related to Dar Al-Arkan Real Estate securities had to be carried out exclusively based on the Saudi stock exchange.
The founding shareholders of Dar Al-Arkan Real Estate owned 70% of the company. Dar Al-Arkan's shareholders currently hold 81% of the shares.
The wealth of Dar Al-Arkan Real Estate at the end of 2016 grew to the size of 24.4 billion riyals, which corresponded to 6.5 billion US dollars. Dar Al-Arkan's net worth was estimated at 18.1 billion riyals or 4.8 billion US dollars.
The total revenue of the company amounted to 1.8 billion riyals or 0.48 billion US dollars.
Currently, Dar Al-Arkan Real has a massive number of branches located in all corners of the Kingdom of Saudi Arabia. The offices of Dar Al-Arkan Real are located in Mecca, Jeddah, Madinah.
In total, Dar Al-Arkan Real has seven large offices with more than 300 office workers. The number of employees involved in the construction of Dar Al-Arkan Real facilities is significant.
The most impressive construction projects of the Saudi company Dar Al-Arkan Real are the Ishbiliyah complex, which consists of 420 villas, and the Al Yarmouk complex, covering an area of 409,775 square meters and consisting of 389 residential buildings.
The famous Al Munsiyah complex, located in the east of Riyadh, has 259 residential buildings. The cost of construction work amounted to 127,700,000 riyals.
Al Mourjan, located in the city of Yanbu, near the sea, consists of 95 buildings. The construction of this architectural complex cost 52,100,000 riyals.
The architectural complex of Al Aziziyah Towers, which is built in Mecca near the Holy Mosque, is a fantastic sight consisting of seven towers.
The equally impressive Al Abrar Towers project consists of 400 housing units and eight towers. The cost of the project is 97,890,000 riyals.
Al Noor Villas complex consists of 80 residential buildings and villas. The project contains a mosque and square. The construction of Al Noor Villas cost 44,600,000 riyals.
Al Shati AlZahabi (Golden Coast), built near the airport in Jeddah, includes a complex of 398 residential buildings, shopping centers, schools, public gardens. Project price - 211.5 million riyals.
Al Qasr Mall is located in Riyadh and includes a four-storeyed shopping center, which houses 350 shops, many restaurants, an entertainment area, large outdoor areas. This shopping center has four panoramic elevators, 28 escalators, eight electric tracks, and 14 elevators connecting all levels of the building.
Not only Saudis are the architects of the grandiose projects. Artists and architects from other countries are invited to work on the construction.
So, one of the invited masters of architecture was the famous Italian designer Roberto Cavalli. An Italian artist has developed an architectural project for Dar Al-Arkan Real outside the Kingdom.
The “I Love Florence Tower” was built in Dubai. It features apartments and 38 floors. In addition to luxury apartments, the tower will offer shopping attractions. The cost of the project was 2.18 million US dollars.
According to the management of the development company, Dar Al-Arkan Real intends to expand its business.
However, the leadership of Dar Al-Arkan refused to reveal their plans. It was pointed out that Dar Al-Arkan would thoroughly conduct a financial audit, involving a whole army of lawyers and economists.
Dar Al-Arkan has placed a 30% stake in its construction subsidiary on the Saudi Arabian Stock Exchange. Dar Al-Arkan plans to increase profits and dividends for its retail shareholders.
On August 1, 2019, Dar Al-Arkan Real shares were traded at 11,48 riyals. To acquire Dar Al-Arkan Real shares, start trading with Maxitrade.сom. Choose Dar Al-Arkan Real Estate instruments.