Dar Al-Arkan to focus on FinTech investment, says Chairman

Dar Al-Arkan Real Estate Development will focus in the near future on investing in the FinTech sector, diversifying its portfolio diversification, and launching new partnerships with existing developers, chairman Yousef Al Shelash told CNBC Arabia.

“Dar Al-Arkan is looking forward to acquiring a leading position in the FinTech sector, so as to promote this trend in the real estate industry,” Al Shelash said.

The company will mainly invest in the FinTech sector, which is compatible with its operations.

The real estate developer will also join hands with peers to develop their existing assets, after being only focused on developing its own assets.

The company has abundant liquidity, Al Shelash noted, adding that the issuance of sukuk comes in line with its products that require long-term finance and an investment period of 3 to 5 years.

“There is an opportunity to issue new sukuk, following the success of Dar Al-Arkan’s latest issue. We hope they will contribute to medium and long-term growth,” he concluded.