The international rating agency S&P revised its credit rating outlook for Dar Al-Arkan Real Estate Development Co. to ‘Positive’ from ‘Stable’, and affirmed it at ‘B+’, following a recent review of the company’s performance.

S&P explained in its media release that the outlook revision was a result of the company’s operating performance, which is proving to be resilient and stable from favorable market conditions and an attractive property portfolio.

For his part, Dar Al Arkan Chairman Yusuf Al-Shallash said that this rating reflects the company’s strong foothold in the Saudi realty market, as well as robust financial position and attractive real estate portfolio. He added that the company has flexibility to deal with different changes.