Dar Al-Arkan Real Estate Development Company announced the appointment of Ziad Al-Sha'ar as the company’s CEO, effective the beginning of last month,  On this occasion, the company’s Chairman of the Board, Youssef Al-Shallash, explained that Al-Sha’ar was appointed to capitalize on his expertise, given his distinguished career and extensive experience in the real estate, finance, and leadership sectors, which aligns with the company’s current focus on pursuing a real estate development strategy that contributes to profit growth, strengthens its financial position, and generates high returns on assets and sustainable revenue, while simultaneously reducing costs, rationalizing spending, and proactively addressing the strategic shifts currently affecting the Saudi economy in general and the real estate sector in particular.

The company recently successfully closed the issuance of the fourth tranche of its Islamic sukuk program in the amount of approximately 1.9 billion riyals and listed it on the Nasdaq Dubai exchange, amid strong demand equivalent to twice the size of the issued tranche, It is worth noting that Dar Al Arkan is the largest real estate company listed on the Saudi stock market, with a capitalization of 10.8 billion riyals and total assets valued at approximately 25 billion riyals.