Dar Al-Arkan Real Estate Development has successfully repaid the full amount of its Islamic sukuk, totaling 1.125 billion riyals (equivalent to $300 million).
These sukuk mature on November 25 of this year. The full amount of the sukuk and the returns have been transferred to the designated account and will be credited to the sukuk holders" accounts on November 25, 2016.
The company launched the Dar Al-Arkan Sharia-compliant Sukuk program (Islamic Sukuk) in 2007.
Over the previous seven years, through February 2015, "Dar Al-Arkan“ repaid four sukuk issuances (three international and one domestic) with a total value of 8.4 billion riyals (equivalent to $2.25 billion).
