Dar Al Arkan eyes new project in Abu Dhabi, phased handover of Shams Ar Riyadh begins by year-end

Dar Al Arkan eyes new project in Abu Dhabi, phased handover of Shams Ar Riyadh begins by year-end

Saudi developer Dar Al Arkan is planning to launch a new residential project in the UAE’s capital next year, company Vice Chairman Ziad El Chaar told Zawya Projects.

“Our growth in the market will consistently focus on the second home and vacation home space, as this is where we have the expertise and can add the most value,” he stated.

The first two phases of Shams Ar Riyadh will be handed over before year-end, El Chaar said.

Shams Ar Riyadh, a mixed-use development project, covers an area of more than five million square metres (sqm) divided into five zones, according to 2021 Annual Report. After selling zone 2, estimated at 1.8 million sqm to SABIC for their employee housing, the developer is currently developing the remaining four zones, an area of over 3.1 million sqm.