Yousef Al Shelash, Chairman of Dar Al Arkan
Dar Al Arkan Real Estate Development Co. is planning to list the shares of Saudi Home Loans Co. (SHL) on the Saudi market, Chairman Yousef Al Shelash told CNBC Arabia, noting that Sahl has up to SAR 1 billion capital.
The company plans to invest $2 billion in a real estate tourism project in Oman over 10 years.
Al Shelash also added that Dar Al Arkan is awaiting the regulatory approvals required for using digital currencies in the purchase and sale of real estate assets.
SHL was established in 2008. It is owned by Dar Al Arkan, Arab National Bank (ANB), and the World Bank’s International Finance Corporation (IFC).
It finances the purchase of homes, residential land, apartments, real estate assets, as well as commercial and industrial projects in the Kingdom.
ANB owns 40% of SHL, while Dar Al Arkan owns a 15% stake.
|
SHL Shareholders |
||
|
Shareholders |
Number of Shares (mln) |
Ownership % |
|
ANB |
40.00 |
40% |
|
Dar Al Arkan |
15.00 |
15% |
|
Kingdom Installment Co. |
9.00 |
9% |
|
Yousef Al Shelash |
8.00 |
8% |
|
Hathlool bin Saleh Al hathlool |
6.00 |
6% |
|
Tareq Mohammed Al Jarallah |
6.00 |
6% |
|
IFC |
5.00 |
5% |
|
Abulatif bin Abdullah al Shelash |
5.00 |
5% |
|
Inma Almadaen Co. |
4.00 |
4% |
|
Daem Al Khaleej Co. |
2.00 |
2% |
|
Total |
100.00 |
100% |
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