Dar Al-Arkan eyes local, overseas expansions, says chairman

Saudi-listed Dar Al-Arkan Real Estate Development Co. plans to expand inside and outside the Kingdom in the near-term, and offer new products to fulfill client demand, chairman Yousef Al-Shelash said in a statement.

The developer is eager to help resolve Saudi Arabia’s housing shortage and to enhance the sector’s role in contributing to the Kingdom’s gross domestic product (GDP), he said.

Dar Al-Arkan also aims to provide new job opportunities for nationals, Al-Shelash added.

Al-Shelash also said that newly appointed CEO Ziad El Chaar will be able to help the company achieve its expansion strategy, grow profitability, and enhance its financial position, as El Chaar has broad experience in the real estate and financial sectors.