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26/02/2018 05:42 AST
Saudi Arabian real estate developer Dar Al Arkan met fixed income investors last week for a so-called non-deal roadshow, discussions that were not linked to any specific plan for a bond issue, sources familiar with the matter said.
Dar Al Arkan, which issued $500 million (Dh1.8 billion) of Islamic bonds last April, held the meetings to update investors on the company's business, but no concrete bond issue plan was discussed, said one source, declining to be named because of commercial sensitivities.
The company did not immediately respond to a request for comment. The roadshow was held last week in Dubai and arranged by Emirates NBD.
Dar Al Arkan has $450 million of sukuk due in June this year, $400 million of sukuk due in 2019 and a further $500 million of sukuk - those issued last year - maturing in 2022.
The company, rated B1 by Moody's, issued its last sukuk with Alkhair Capital, Deutsche Bank, DIB, Emirates NBD, Goldman Sachs, Noor Bank and QInvest as joint bookrunners. The sukuk offered a profit rate of 6.875 per cent per annum.
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Dar Al Arkan, Saudi Arabia's leading real estate developer, is planning to launch its landmark masterplan, named Manhattan, covering 1 million sq m of prime land in the heart of Jeddah.
"Th
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Yousuf Bin Abdullah Al Shelash, Chairman of Dar Al-Arkan Real Estate Development Company, one of the largest Real Estate Developers in the Middle East, today rang the market opening bell to celebrate
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15/01/2018
Dar Al Arkan, a leading real estate developer in the Middle East, has started work on its Dh800-million ($218 million) development - I Love Florence Tower - located on the Dubai Water Canal in the Bu
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MASAR | 23.50 | -0.19 (-0.81 |
| JABALOMAR | 16.63 | 0.16 (0.97 |
| MCDC | 87.30 | 1.05 (1.21 |
| TAIBA | 38.74 | -0.46 (-1.18 |
| CENOMICENTERS | 21.10 | 0.00 (0.00 |
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Parkin Company PJSC, Dubai's largest provider of paid public parking, reported record third-quarter results, with revenues up 43% year-on-year to Dh343.3 million, driven by higher tariffs, network ex
Gulfnews
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