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RNS Number : 7073X

Dar Al-Arkan International Sukuk II

20 February 2012

Dar Al-Arkan Real Estate Development Company (DAAR) announced that it made a payment of USD 24.2 million due as a semi-annual payment for its Sukuk IV issuance maturing in 2015.

Commenting on this, Mr. Anand Raheja, DAAR's CFO said, "DAAR is a reputed issuer of international and local Sukuks with has a track record of always honoring its all obligations when they come due". Mr. Raheja emphasized that DAAR is on track to meet all upcoming debt obligations while maintaining its project expenditure. He added, "The Company's cash reserve stood at USD 665 million (SAR 2.5 billion) as end of 2011, this build-up is in accordance with our strategy of relying on internal resources to repay the $1 billion Sukuk maturing in July 2012".

This information is provided by RNS

The company news service from the London Stock Exchange

END

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