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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

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Equinor signs $27 bn gas deal

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ADNOC Drilling secures $1.15bn contract

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Dar Al Arkan issues sukuk of $600m

The issuance received great interest from participants in the regional and international markets. (Twitter)
By TRENDS Desk
July 19, 2023 3:53 pm
  • The maturity period is of five years at a profit rate of 8 percent annually.
  • The issuance order book reached US$1.64 billion (SAR 6.15 billion).

RIYADH, SAUDI ARABIA – Dar Al Arkan Real Estate Development Co. announced on Wednesday the successful closing of its 13th issuance of Islamic Sukuk.

This issuance is the ninth tranche of the Islamic Sukuk program denominated in US dollars, with a value of US$600 million (SAR 2.25 billion). 

The order book for the sukuk was opened on Tuesday and closed on the same day, the company said in a statement to Tadawul.

Dar Al Arkan said that the maturity period is over a period of five years at a profit rate of 8 percent annually.

The issuance order book reached US$1.64 billion (SAR 6.15 billion).

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