Riyadh - Mubasher: Dar Al Arkan Real Estate Development Company plans to issue a USD-fixed-rate, Shariah-compliant 'RegS' senior unsecured Sukuk in the global market.

The company has mandated a consortium of banks as joint lead managers and bookrunners to conduct a series of fixed income investor calls starting 24 June 24, according to a bourse filing.

The consortium includes ADCB, ADIB, Alkhair Capital, Al Rayan Investment, Arqaam Capital, Bank ABC, DIB, Emirates NBD Capital, First Abu Dhabi Bank (FAB), J.P. Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered, and Warba Bank.

Following the board’s decision on 29 May, the proceeds of the Sukuk will be used for general corporate purposes.

Subject to regulatory approvals, the Sukuk issuance will adhere to applicable stabilization rules, including the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) guidelines.

As of 31 March 2025, Dar Al Arkan registered 36.29% higher net profits at SAR 209.34 million, compared with SAR 153.59 million in the first quarter (Q1) of 2024.