Dar Al Arkan Real Estate Development Co.

Dar Al Arkan Confident Can Repay $1 Billion Sukuk, Arabian Says

Dar Al Arkan Real Estate Development Co. (ALARKAN) is certain that it will be able to repay a $1 billion Islamic bond maturing in July.
Saudi Arabia’s largest property developer has been developing cash reserves to repay the bond and can use assets and land as collateral to secure funding in the case of a shortfall.

Dar Al Arkan says it can pay $2.1 bln debt without tapping bond market

Dar Al Arkan Real Estate Development Co., Saudi Arabia’s biggest property company by market value, can repay 7.8 billion riyals ($2.1 billion) of debt maturing within five years without tapping the bond market again.
Rental income from properties in Mecca, Medina and Riyadh will generate 300 million riyals a year and the company plans to raise money by selling residential properties and land in its portfolio, though not fixed assets.

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