2022 ANNUAL REPORT - DAR AL ARKAN

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2022

ANNUAL

REPORT

2022 ANNUAL REPORT

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DAR AL ARKAN

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2022 ANNUAL REPORT

King Salman

BIN ABDULAZIZ AL SAUD

Crown Prince Mohammad Bin Salman

BIN ABDULAZIZ AL SAUD

The Custodian of

the two Holy Mosques

Deputy Premier

and Minister of Defense

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DAR AL ARKAN

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2022 ANNUAL REPORT

Table of Contents

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54

90

108

About Dar Al Arkan

Saudi Real Estate

Investor relations and shareholder

information review

Risk Factors

60

90

92

92

93

94

95

112

06

08

Our Purpose, Vision and Mission

At a Glance

10

Message of the Chairman

12

Strategic Review

12

14

15

16

Message of The CEO

Corporate Strategic Pillars

Our Operating Model

Growth Avenues

18

Our Assets

19

31

49

National Projects

International projects

Property Management and Leasing

Sustainability at Dar Al Arkan

Share Performance

Investor Communication

Investor Relations Activities

Investor Information

Shareholder Register Requests

Dividend Policy

74

96

Financial Review

Corporate Governance

74

76

76

77

96

100

102

103

78

79

86

89

Message of The CFO

Business Activities

The Company¡¯s Subsidiaries

Investments in subsidiary companies as defined by the

rules of the Capital Market Authority (¡°CMA¡±)

Company Activities and Contribution to Revenue

Financial Highlights

Debt Program

Related Party Transactions

104

105

105

106

107

107

Board of Directors

Executive Team

Membership of the Board

Interest in Contractual Securities

and Underwriting Rights

Meetings Attendance

Board Committees

The Executive Committee

The Audit Committee

The Nominations and

Remuneration Committee

Board Undertakings

Governance and Regulation

112

113

113

116

116

Corporate Governance

The Provisions of the Corporate Governance Regulations

Remuneration and Compensation

Penalties and Fines

Internal Audit

118

Consolidated Financial Statements

and Independent Auditor¡¯s Report

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about

Dar Al Arkan

MALAGA

SARAJEVO

Sidra

Benahavis

PURPOSE

To support the urban expansion of Saudi cities and

the access to home ownership for Saudi citizens

VISION

To further our leadership position as the most

respected and dynamic Saudi Arabian real

estate solutions provider, developing integrated

communities for life in the region

Tabano

YANBU

Finca Cortesin

Al Mourjan

MEDINA

LONDON

Naeem Al Jiwar

The Fourth Floor Flat

of 149 Old Park Lane

JEDDAH

MUSCAT

Al Manar

Golden Coast

Shams Al Arous

Qasr Khozam

Commendatore Tower

Aida

MECCA

Dar Al Mashaer

MISSION

To create and nurture thriving integrated

communities, which fulfil and add value to the

social, cultural, recreational, and commercial

needs of our communities, maximizing long

term financial returns for our investors

BURAIDAH

Buraidah Hills

DUBAI

Al Awali villas

Urban Oasis by Missoni

Da Vinci Tower by Pagani

RIYADH

Qurtoba

Al Rabie

Shams Ar Riyadh

Ishbiliyah

W Residences

DOHA

Les Vagues by Elie Saab

Al Mesyaf

Al Qasr Mall

Al Munsiyah

Al Falah

Parisiana

DAMMAM

Al Tawoun

Juman Project

Al Yarmouk

Seashells Project

Sedra Project

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DAR AL ARKAN

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2022 ANNUAL REPORT

ABOUT DAR AL ARKAN

At a Glance

1994

? Founded on 28 Dec 1994

2005

? Dar Al Arkan becomes a joint stock company by ministerial decree number 1021

2007

? Issuance of the first Sukuk in the value of $600 million in Feb 2007 and maturing in Mar 2010,

listed on the Dubai NASDAQ

? Listing of Dar Al Arakan on the Saudi Stock Exchange Tadawul

Capital Share

Assets

Book value per share

10.8

34

18.15

SAR BILLION

SAR BILLION

Investment in land and properties (SAR Billion)

16.19

2018

2013

? Opening of Al Qasr Mall in Riyadh

2017

? Launching I Love Florence tower in Dubai as the first international project

2018

2019

18.88

2019

20.11

2020

20.77

2021

21.79

2022

? Launching Mirabila the first phase of Shams Ar Riyadh development in the Saudi capital

? Issuance of 9th Sukuk in the value of $500 million in Mar 2018 and maturing in Apr 2023,

listed on the Dubai NASDAQ

? Opening of 15 screen VOX cineplex in Al Qasr Mall

? Issuance of 10th Sukuk in the value of $600 million in Oct 2019 and maturing in Feb 2025,

listed on the Dubai NASDAQ

Revenue

(SAR Billion)

6.41

2018

3.49

2019

1.94

2020

2020

2021

2022

? Issuance of 11th Sukuk in the value of $400 million in Feb 2020 and maturing in Feb 2027,

listed on the Dubai NASDAQ

? Launched Verde, La Casa, Giovane and Palazzo in Shams Ar Riyadh

?

?

?

?

Relaunch of Dubai tower under Urban Oasis by Missoni

Launch of new international projects: Da Vinci Tower by Pagani in Dubai and Aida in Oman

Handover of 1st plots in Shams Ar Riyadh

Dar Al-Arkan became the leading company in the region by providing 3D construction

technology (3DCP) for the first time in the Kingdom.

Commendatore Tower in Jeddah

? Issuance of 12th Sukuk in the value of $400 million in Jul 2022 and maturing in Feb 2026, listed

on the Euronext Dublin and Dubai NASDAQ

2.49

2021

3.93

2022

EBITDA

(SAR Billion)

1.11

2018

0.85

2019

2020

? Launch of new international projects: Les Vagues in Qatar, W Residences in Dubai,

Benahavis, Tabano and Finca Cortesin in Spain, and The Fourth Floor Flat of 149 Old Park

Lane in London

? Launch of new local projects: Sedra Project in Riyadh, Buraidah Hills in Buraidah and

SAR BILLION

2021

2022

0.72

0.85

1.32

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