Dar Al Arkan awarded SAR 4.46B real estate deal in Jeddah

Dar Al Arkan Real Estate Development Co. was awarded on Feb. 16 a real estate deal worth SAR 4.46 billion, including tax and commission, in Jeddah.

The developer won the bid through a consortium between Dar Al Arkan, Kenzi Al Arabiya Co. and a group of investors, according to a statement to Tadawul.

The consortium acquired Orchid Land in the largest real estate auction in Saudi Arabia in 2025, marketed by Itqan Real Estate Co., the statement said. The land is located in Jeddah over an area of one million square meters.

A positive financial impact is expected to reflect on Dar Al Arkan's revenues starting the second quarter of 2025. Any further developments will be announced in due course, the statement said.