DAR ALARKAN
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Dar Al Arkan Real Estate Development Co. plans to spend over SAR1 billion ($267 million) on projects in 2015, said Chairman Yousef al-Shelash.
He added that the real estate developer aims for 10% growth of its business that year.
“We have a target to achieve 10% growth next year and this will mainly come from the local real estate market. I am very optimistic with the situation in the Saudi market over coming years,” Al-Shelash said.
“We plan to spend over SAR1 billion on projects in 2015, compared to less than SAR1 billion in 2014,”he added.
Dar Al Arkan had posted a 17% year-on-year rise in the second-quarter net income to SAR 121.3 million.
The chairman said the company has not reached the 50% of fixed income yet, but it plans to achieve it within five years, adding that the company’s rental portfolio grew 105% in 2013 and about 18.5% in the first half of 2014.
He added that the real estate developer aims for 10% growth of its business that year.
“We have a target to achieve 10% growth next year and this will mainly come from the local real estate market. I am very optimistic with the situation in the Saudi market over coming years,” Al-Shelash said.
“We plan to spend over SAR1 billion on projects in 2015, compared to less than SAR1 billion in 2014,”he added.
Dar Al Arkan had posted a 17% year-on-year rise in the second-quarter net income to SAR 121.3 million.
The chairman said the company has not reached the 50% of fixed income yet, but it plans to achieve it within five years, adding that the company’s rental portfolio grew 105% in 2013 and about 18.5% in the first half of 2014.
Source:
Mubasher
