Dar Al-Arkan sells residentail plot to SABIC (9742D)

TIDM44GO

RNS Number : 9742D

Dar Al-Arkan International Sukuk II

23 May 2012

Dar Al Arkan Real Estate Development Company announces the sale of a portion of the residential land at Shams ArRiyadh Project.

Dar Al Arkan Real Estate Development Company announces the sale of a portion of the residential land at its project Shams ArRiyadh, in the city of Riyadh, on 22/05/2012, to the Saudi Basic Industries Corporation SABIC, which will build a residential compound for its employees. The total land area sold is 1,854,225.6 sqm, sold for SAR 400 per sqm, and the total revenue amount generated from the transaction is SAR 741,689,840. The transaction will be reflected in the second quarter of 2012 financial results.

This information is provided by RNS

The company news service from the London Stock Exchange

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