Dar Al Arkan buys land plot in Jeddah with Kenzi Al Arabiya and group of investors
Dar Al Arkan Real Estate Development Co. revealed that it holds an 80% stake in the Jeddah land plot purchased for SAR 4.46 billion through a consortium with Kenzi Al Arabiya Co. and a group of investors. 
For more news and details on MAs
In a statement to Tadawul, the company said all procedures for registering and transferring ownership of the land have been finalized. It added that development work is expected to commence once the necessary regulatory approvals and licenses are obtained.
Dar Al Arkan expects the transaction to generate a positive financial impact in 2025 and subsequent years, affirming that any material developments will be disclosed in line with applicable regulations.
The company highlighted that this deal represents the largest real estate transaction in Jeddah’s history. Covering one million square meters, the land is situated in a prime strategic location, bordered by four major roads, including King Abdulaziz Road, and positioned opposite the Formula 1 venue and in front of Red Sea Mall.
According to data available with Argaam, Dar Al Arkan announced in February the awarding of this SAR 4.46 billion real estate deal in Jeddah, inclusive of tax and commission, through the same consortium.
Dar Al Arkan buys land plot in Jeddah with Kenzi Al Arabiya and group of investors
Dar Al Arkan Real Estate Development Co. revealed that it holds an 80% stake in the Jeddah land plot purchased for SAR 4.46 billion through a consortium with Kenzi Al Arabiya Co. and a group of investors.
For more news and details on MAs
In a statement to Tadawul, the company said all procedures for registering and transferring ownership of the land have been finalized. It added that development work is expected to commence once the necessary regulatory approvals and licenses are obtained.
Dar Al Arkan expects the transaction to generate a positive financial impact in 2025 and subsequent years, affirming that any material developments will be disclosed in line with applicable regulations.
The company highlighted that this deal represents the largest real estate transaction in Jeddah’s history. Covering one million square meters, the land is situated in a prime strategic location, bordered by four major roads, including King Abdulaziz Road, and positioned opposite the Formula 1 venue and in front of Red Sea Mall.
According to data available with Argaam, Dar Al Arkan announced in February the awarding of this SAR 4.46 billion real estate deal in Jeddah, inclusive of tax and commission, through the same consortium.
