Tuesday, 24 November 2009 | 01:04 UAE time
COMPANIES
Dar Al Arkan Real Estate Development Company
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COMPANY DESCRIPTION
Dar Al Arkan Real Estate Development Company built its expansion on the back of a construction boom in the Gulf region’s top oil exporting nation.Catering mainly to the middle-class market, the company is involved in an array of real estate developments spanning the Kingdom.
But the largest Saudi developer by market value posted its lowest quarterly profit growth in the three months to Dec 31, 2008. It made a $115.5m profit, up 2.6 percent from a year earlier but down by almost 40 percent from the third quarter, the firm said.
The company blamed the weak annual growth in fourth-quarter profit on the seasonal nature of the business, rather than the global liquidity crunch.
A shortage of housing in the Kingdom should provide the firm with opportunities for future growth. Dar Al Arkan raised $888m in an initial public offering in December 2007 that was more than three times oversubscribed.
KEY INFORMATION
Industry
Landlord and Developers
Address
Dar Al Arkan Building, Maazer Street, 105633, Riyadh, Saudi Arabia
T
966 1 2069888
F
966 1 2069898
E
W
COMPANY OVERVIEW
| Ownership | Type | Established on | Employees |
|---|---|---|---|
| Public | Joint stock | December 1994 | - |
MAJOR SHAREHOLDERS
| Name | Country | ||
|---|---|---|---|
| Al Arkan for Construction Company | companies | 8.4 | Saudi Arabia |
| Emaar Al Bayader for Development Company | companies | 7.5 | Saudi Arabia |
| Kingdom Installment Trading Company | companies | 7.6 | Saudi Arabia |
| Manazel Construction Company | companies | 7.9 | Saudi Arabia |
| Hazloul Saleh Mohammad Al Hazloul | individuals | 6.9 | Saudi Arabia |
| Khaled Abdullah Shelash Al Shelash | individuals | 8.2 | Saudi Arabia |
| Majed Abdulrahman Abdulaziz Al Qassem | individuals | 5.3 | Saudi Arabia |
| Youssef Abdullah Shelash Al Shelash | individuals | 7.7 | Saudi Arabia |
PORTFOLIO
| Name | Country |
|---|---|
| Saudi Homes Loans Company | Saudi Arabia |
OFFICERS
| BOARD OF DIRECTORS | Position |
|---|---|
| Youssef Abdullah Shelash Al Shelash | Chairman |
| Hazloul Saleh Mohammad Al Hazloul | Board Member |
| Khaled Abdullah Shelash Al Shelash | Board Member |
| Abdulaziz Abdullah Al Shelash | Board Member |
| Tariq Mohammed Ali Al Jarallah | Board Member |
| Abdulkarim Hamad Al Babtain | Board Member |
| Majed Roumi Suleiman Al Roumi | Board Member |
| Majed Abdulrahman Abdulaziz Al Qassem | Board Member |
| Abdullatif Abdullah Shelash Al Shelash | Board Member |
| Ayman Abdullah Youssef Hamad Boudi | Board Member |
| Majid Bader Hashim Al Sayed | Board Member |
| MANAGEMENT | Position |
| Abdullatif Abdullah Shelash Al Shelash | Managing Director |
| Saoud Abdulaziz Al Kasir | General Manager |
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