|10-22-2014, 09:44 PM||#1|
Dar Al Arkan targets a 10% growth next year
Saudi Arabia`s largest listed developer, Dar Al Arkan, plans to spend over SAR1 billion ($267 million) on projects in 2015 and targets a 10 percent growth next year.
Dar Al Arkan does not truly have strong opponents in the field and accordingly continues on easily expanding in the country and to lead the real estate sector.
Plus as a result of rapid population growth and slow progress in government building programmes, Dar Al Arkan continues on supplying the biggest housing agendas on the kingdom`s soil.
Accordingly a 10 percent growth target set by the developer seems not to be that challenging.
“We have a target to achieve 10 percent growth next year and this will mainly come from the local real estate market. I am very optimistic with the situation in the Saudi market over coming years,” said the company`s CEO, Yousef al-Shelash.
“We plan to spend over SAR1 billion on projects in 2015, compared to less than SAR1 billion in 2014,” he added.
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