Dar Al Arkan has been on a global expansion drive. Led by Chairman Sheikh Yousef Al Shelash, the Saudi Arabia-based real estate development company’s international expansion into eight countries includes the Sidra project in Bosnia. The company also has two luxury co-branded towers in the United Arab Emirates: one in collaboration with luxury fashion brand Missoni, and one with race car manufacturer Pagani Automobili. And it announced expansion into the Qatari and Omani markets through premium residential and commercial projects.
Yousef Al Shelash says, “Dar Al Arkan is a global brand.” He is a man of principle, devoted to showing the world the benefits of strict Saudi values. He says the company continuously accomplishes that “by delivering on promises and delivering on quality and delivering on time.”
Sheikh Yousef Al Shelash continues, “This is what we are trying to do very hard and very actively in our real estate projects outside Saudi Arabia, starting with that very first project that we’ve done outside Saudi, which is the Urban Oasis.” The Urban Oasis by Missoni Home is a luxury residential tower in Dubai. The CEO was on hand for the topping-out ceremony at the waterfront property in April 2022 because he takes pride in showing the world another image of what Saudi is by leading the company through expansions in not only Dubai but also Oman, Qatar, the United Kingdom, and Spain.
Dar Al Arkan Opens in China
In February 2022, Dar Al Arkan opened its first office in China.
According to the premier real estate company, its Beijing office is multipurpose and was established “to allow for joint ventures between the property development company and leading Chinese real estate developers for the Chinese and the Saudi market, further increasing and facilitating collaboration between Saudi Arabia and China and enhancing investment and knowledge sharing opportunities. The office will primarily promote cooperation and partnerships within the real estate and technology sectors to exchange and implement global best practices in these respective industries.”
The Beijing office will act as a hub to support Chinese companies and investors seeking expansion and investment opportunities in Saudi Arabia. “By providing access to required information, permits, legal and financial knowledge, as well as support on partnerships and other requirements, Dar Al Arkan is making entry into the Kingdom more accessible,” stated the company. “Likewise, the office will support Saudi Arabian companies to explore expansion opportunities and gain entry into the Chinese market. Furthermore, [the company] will encourage other areas for mutual collaboration, especially in tourism and cultural exchanges.”
A spokesman for the real estate development company, stated, “It is the best time to enter the Chinese market now because the valuations are very attractive and the Chinese government in many cities are giving a lot of incentives for international developers to enter the market.
“We don’t have the expertise of China, and we will rely on a Chinese developer to help us find the land and work with us on the permit, the design and development, and construction. In addition, we will assist with our immense expertise in sales, marketing, value engineering, and financing.”
The spokesman adds that the company “has pioneered a distinctive approach to development, introduced new technologies, and raised the benchmark for the real estate and technology sectors in the Kingdom. With this expertise and industry know-how, the company is well positioned to take this knowledge and creativity to a global level and promote it as best practice. By entering into the Chinese market, the real estate development company is also well positioned to enhance relations between the Kingdom and China across multiple fronts.”
Yousef Al Shelash Talks Expansion in Dubai
The company that Al Shelash oversees brought the world’s first completely residential W project to Dubai. The W Residences Downtown – Dubai “does not have a hotel element, so this is more private,” the CEO says about the 340-unit tower, which boasts floor-to-ceiling glass facades and spacious balconies. “Residents do not need to check in or check out. This is their own private W residence with their own private W spa, pool, and meeting rooms.”
Dar Al Arkan says, “W Residences Downtown – Dubai offers superlative amenities dedicated to turning every moment into a truly memorable experience. Enjoy a clubhouse, guest suites, a cutting-edge fitness center, a communications space with a private cinema, game room and chill-out area, business offices with co-working space and meeting rooms, an infinity outdoor pool, and a colossal terrace with a lounge area, dining area, and a walking track.”
Living in Dubai is costly. According to a Knight Frank study, residential prices in Dubai increased 21% in the first 10 months of 2021. Spawned by the COVID-19 pandemic, “We have seen the evolution of the superluxury market, and this is what motivated us to launch the DaVinci project in partnership with Italian manufacturer Pagani,” stated the spokesman El Chaar. The stunning space boasts 19 floors of residential abodes. And perhaps best of all, it is in a prime location right on the Dubai Canal with inspiring views of Burj Khalifa.
According to Dar Al Arkan, “Every detail is crafted to obsession, every material is of the finest quality, every line is designed with taste and harmony, resulting in the unique experience of inhabiting a masterpiece. A true homage to Leonardo dDa Vinci, the ultimate source of inspiration of super automaker Horacio Pagani.”
Building a Bright Future for Families in Saudi With the Introduction of Home Mortgages
Yousef Al Shelash and the real estate development company are responsible for bringing amazing residential and mixed-use properties to the people of Saudi Arabia, including in Mecca, Taif, Medina, Jeddah, and Riyadh. “The demand is very high in Riyadh because there is a growing population and there is a young population,” Al Shelash said. Many expatriates moving to the capital with their families are pushing rents and prices higher,” stated the spokesman El Chaar.
Sheikh Yousef Al Shelash said, “People are building families, and they live in a community. Dar Al Arkan builds houses and apartments in which families are growing.” Therefore, making housing affordable and functional is at the heart of Al Shelash’s decisions.
According to the businessman, who is also the chairman of Bahrain’s Bank Alkhair and the chairman of Saudi Home Loan Co., he’s “fulfilling a commercial target by generating for the shareholders of the company that requires right of return. Since they are in real estate, they are also involved in building cities, communities, and families. So I am building homes.”