Dar Al Arkan redeems $400M sukuk

09:09 AM (Mecca time) Argaam
Logo ofDar Al Arkan Real Estate Development Co.

Logo of Dar Al Arkan Real Estate Development Co.

Dar Al Arkan Real Estate Development Co. announced the full redemption of its $400 million sukuk (eighth tranche), issued under ISIN XS2491049651.

 

In a statement to Tadawul, the company said the sukuk were issued on July 7, 2022. The nominal value at redemption stood at $1,000 per certificate, with 400,000 sukuk outstanding, bringing the total issuance value to zero following redemption.

 

Dar Al Arkan said the financial impact of the redemption will appear in its Q1 2026 financial statements.

 

The company added that the sukuk were redeemed at maturity using internal resources, with the amount transferred to the designated account.

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