Dar Al Arkan Real Estate Development Company Issues Sukuk Worth USD 400 Million 

Saudi Arabia-based Dar Al Arkan Real Estate Development Company (DAAR) has issued Sukuk worth USD 400 million with a three-year tenure on the 30th of June 2022, as per a statement.

Why it Matters?

The offering represents DAAR’s 12th market issuance and has witnessed strong interest from both domestic and foreign investors. Proceeds from the issuance will be used to further support the company's development objectives and pipeline of projects.

Details

The joint lead manager for the issuance was Bahrain-based GFH Financial Group, alongside other parties. DAAR is listed on the Saudi Stock Exchange (Tadawul) with a portfolio of USD 8.5 billion in assets and projects spread out across Saudi Arabia, United Arab Emirat...