#58 Dar Alarkan
Dar Alarkan is a real estate development company in the Kingdom of Saudi Arabia, specialising in residential real-estate and the development of master-planned lifestyle residential communities offering developed land parcels, apartments and villas.
Based in Riyadh, Dar Al-Arkan was established in 1994 by six prominent business families with significant real estate development experience in response to the increasing demand for quality 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 $37mn. The company increased its capital to $1.44bn 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 and in 2007 listed its shares on the Saudi Stock Exchange. Dar Al-Arkan’s rapid growth corresponds to a clear shortfall in the supply of housing units and an increasing demand for residential real estate in the Kingdom, particularly within the middle-income segment of the market.
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