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Saudi’s Dar Al Arkan seeks three new zones at Shams Ar Riyadh master project

Saudi’s Dar Al Arkan seeks three new zones at Shams Ar Riyadh master project

The wider Shams Ar Riyadh comprises residential, commercial, and mixed-use elements

Saudi’s largest listed developer Dar Al Arkan has applied to accredit three new real estate projects spanning more than 1.936 million square metres.

The company said it submitted a request to ETMAM, the Developers Services Centre at the Saudi Ministry of Housing, for the accreditation of the three zones in its Shams Ar Riyadh development on King Khalid Road.

Zone One spans 849,000sqm, Zone Three 449,00sqm and Zone Five 638,000sqm.

The company also applied to sell projects under construction in Shams Ar Riyadh off-plan.

“This step will further shape the development of Shams Ar Riyadh to support a thriving residential and business community,” said Dark Al Darkan chairman Yousef Bin Abdullah Al Shelash.

“Working together with ETMAM, we can transform the new zones into distinct holistic, sustainable communities with active and vibrant lifestyles.”

The wider Shams Ar Riyadh comprises residential, commercial, and mixed-use elements spread across 5 million square metres.

It includes the 600-unit SABIC Residential Complex, spanning 1.8 million square metres in Zone Two, for the petrochemical firm’s workers and the SAR600m ($160m) Mirabili featuring residential villas designed in partnership with Italian fashion house Roberto Cavalli.

Read: Saudi’s Dark Al Arkan launches $160m villa project</strong>

The company has invested SAR1bn ($266.5m) in infrastructure for the project to date including two power substations and main access roads.

Dar Al Arkan appointed a new CEO in July after Ziad El Chaar stepped down from the role after barely a year. His replacement, Kelvin Kwok, was previously CEO of Emaar Middle East.

Read: Saudi’s largest developer Dar Al Arkan appoints new CEO

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