In recognition of its ongoing efforts to implement best governance practices and its commitment to the principles of transparency and disclosure, Dar Al-Arkan Real Estate Development Company was awarded the “Best Corporate Governance System in the Kingdom” for the year 2016 from the prestigious international magazine “World Finance,” which specializes in the finance and business sectors.
On this occasion, the company’s Chairman of the Board, Yusuf bin Abdullah Al-Shallash, emphasized that receiving this prestigious international award underscores Dar Al-Arkan’s commitment to corporate governance principles in its operations, and reflects the company’s serious and ongoing efforts to achieve the highest standards in corporate governance and realize its vision of becoming a role model as a national joint-stock company.
Al-Shallash regarded the award as a testament to the leading role Dar Al-Arkan plays in the Kingdom’s real estate development sector through its relentless pursuit of implementing governance policies that are always in line with international best practices and standards, which aim to achieve the highest levels of disclosure, transparency, and internal audit, while taking into account the interests of all its clients and investors around the world.”
Al-Shallash noted that this award strengthens the foundations of corporate governance and broadens the scope for adopting and implementing best governance practices in the Kingdom, ensuring the sustainable development and implementation of corporate governance systems, and thus its ability to cope with increasingly competitive conditions both domestically and internationally, noting its role in supporting and encouraging exemplary practices in this vital field.
It is worth noting that Dar Al-Arkan had previously won the “Best Corporate Governance System in the Middle East and North Africa” award from “The European” for three consecutive years—2013, 2014, and 2015—and also won the “Best Corporate Governance System in the Kingdom” award from “World Finance” for 2013.
