Latest news with #DarAlArkanRealEstateDevelopmentCompany
Zawya
06-05-2025
- Business
- Zawya
Dar Global awards main contract for villas, apartments in AIDA project in Oman
Dar Global, a subsidiary of Saudi-listed Dar Al Arkan Real Estate Development Company, has awarded the main works contract for The Great Escape (TGE) apartments and phase 1 villas in AIDA, a mixed-use gated community in Muscat, to Al Adrak Trading & Contracting. Construction will commence immediately, with handover targeted in fourth quarter 2026, the London-listed company said in a statement on Tuesday. The contract value wasn't disclosed. The TGE apartments and the villas are the centrepiece of Phase 1. The AIDA master plan is being developed in collaboration with Omran Group. In June 2024, Dar Global awarded two contracts worth 23.4 million Omani rials ($61 million) for the first phase of the AIDA project. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
05-05-2025
- Business
- Zawya
Saudi: Dar Al Arkan sees 36% higher profits in Q1-25
Riyadh – Dar Al Arkan Real Estate Development Company posted net profits worth SAR 209.34 million in the first quarter (Q1) of 2025, an annual growth of 36.29% from SAR 153.59 million. Revenues hiked by 7.75% to SAR 932.01 million in Q1-25 from SAR 864.92 million in Q1-24, the financial results showed. The earnings per share (EPS) increased to SAR 0.19 as of 31 March 2025 from SAR 0.14 a year earlier. Quarterly, the Q1-25 net profits shrank by 40.76% from SAR 353.38 million in Q4-24, while the revenues dropped by 8.06% from SAR 1.01 billion. In 2024, Dar Al Arkan's net profits jumped by 32.10% YoY to SAR 806.84 million from SAR 610.76 million. Source: Mubasher
Zawya
07-04-2025
- Business
- Zawya
Project Updates: Dar Al Arkan unveils completion date for UAE, Saudi projects
The W Residences in Downtown Dubai is projected to be completed in the third quarter of 2026, Dar Al Arkan Real Estate Development Company said in its 2024 annual general report. The 49-storey luxury tower, which was launched in early 2022, has 383 units, offering an infinity outdoor pool, a private cinema and business offices. DG 1, Dubai The 20-storey DG 1, located by the canal in Downtown Dubai, is forecast to be completed by the end of 2026. The tower is designed by Gensler Architects and consists of 249 units. Da Vinci Tower by Pagani, Dubai The developer expected the refurbishment stage of Da Vinci Tower by Pagani in Downtown Dubai to be completed by the first quarter 2025, the report said. The original semi-structured asset was acquired in the fourth quarter of 2021 and a complete façade and interior refurbishment is underway, the report said. The tower comprises three basement levels, a ground floor and 19 floors housing 85 luxury apartments. Etoile by Elie Saab, Riyadh Meanwhile, the progress on Etoile by Elie Saab development in the northern part of Riyadh was 85 percent complete by the end of December 2024 and is expected to be fully complete by November 2025. The project consists of three zones and features seven villa typologies. The plot sizes range from 200 to 350 sq m and the total built-up area of the project spans 54,653 sq m. The major infrastructure development phase was completed in 2023 by the master developer (ROSHN) and construction works commenced in the second quarter of 2023 after the site was handed over to Dar Al Arkan. (Editing by Anoop Menon) (
Zawya
20-03-2025
- Business
- Zawya
Dar Al Arkan's profits near $215.2mln in 2024
Riyadh – Dar Al Arkan Real Estate Development Company recorded 32.10% higher net profits at SAR 806.84 million at the end of December 2024, versus SAR 610.76 million in 2023. Revenues hiked by 38.86% to SAR 3.75 billion last year from SAR 2.70 billion in 2023, as per the financial results. Meanwhile, the earnings per share (EPS) increased to SAR 0.75 in 2024 from SAR 0.57 a year earlier. At the end of September 2024, Dar Al Arkan logged net profits worth SAR 453.46 million, an annual rise of 9% from SAR 416.01 million. Source: Mubasher
Zawya
18-02-2025
- Business
- Zawya
Saudi's Dar Al Arkan consortium snaps up $2bln Jeddah property in auction
Saudi-based Dar Al Arkan Real Estate Development Company has announced that it has acquired a real estate property worth SAR4.46 billion ($1.18 billion) in Jeddah at a major auction in alliance with Kenzi Al Arabiya Company and a group of investors. The auction, one of the largest real estate auctions held in Saudi Arabia this year, was for Orchid land located in Jeddah spanning one million sq m area, said Dar Al Arkan in its filing to Saudi bourse tadawul. The consortium acquired the land in the largest real estate auction in Saudi Arabia for the year 2025, marketed by Itqan Real Estate Company. On the financial impact, Dar Ar Arkan said it is likely to have a positive financial impact on its revenues during the second quarter of fiscal year 2025 and the years thereafter. The largest developer by market value in Saudi Arabia, Dar Al Arkan's main activity is land development, namely purchasing and developing infrastructure on raw land parcels. It also master-plans residential projects and commercial schemes in addition to providing construction, maintenance and demolition services as well as restructuring of residential and commercial buildings.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
