Dar Al Arkan has revealed details of the second phase of the Shams Riyadh project, which includes the construction of a gated residential complex within the project comprising 1,000 residential units designated for SABIC, Yousef Al-Shallash, Chairman of Dar Al-Arkan, explained that investments for this phase will amount to 600 million riyals, and will be funded by the company and off-plan sales, noting that the company’s investments in this project have reached 2 billion riyals to date, and total investments will exceed 10 billion riyals over the next two years.

Al-Shallash explained that the Shams Riyadh project is divided into five phases. The first involves comprehensive development and is still awaiting approval from the High Commission for the Development of Riyadh. The second phase consists of the SABIC project, which the company has established for its employees, while the third and fifth phases are awaiting approval from the Secretariat.

Al-Shallash noted that the company has signed agreements with international firms in preparation for the launch of sales, which will be announced during the marketing and sales phase.