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Yousef Al Shelash
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Yousef Al Shelash

 Chairman, Dar Al-Arkan
Dr Hamed Al Dhahab
John Ferguson

Saudi Arabian developer, Dar Al-Arkan, recorded a net profit of $15.43m (SAR57.85m) during the first three months of 2016, down 60.7% compared to the $39.2m (SAR147.29m) achieved during the corresponding period last year. The Q1 2016 results mean that the company has reported declining profits in six of the past seven quarters, according to data from news agency Reuters. Dar Al-Arkan has attributed the slide to lower sales revenues.

Nevertheless, Yousef Al Shelash and his team are pushing on with a selection of projects in the kingdom. Dar Al-Arkan’s current portfolio includes Juman, Al-Qasr Mall, Shams Al-Arous, Shams Alriyadh, Al Tilal, and Qasr Khozam.
Commenting on the breadth of his firm’s development activities, Al Shelash said: “Our strategy focuses on accessing all market segments throughout the kingdom.

“This is achieved through boosting the production capacity, diversifying the investment base by scouting the best opportunities, and [our] commitment to continuous research and development,” added Al Shelash.

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Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the
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The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020