Moodys Investors Service - Dar Al Arkan Real Estate Development Co. (4300) Dar Al Arkan Real Estate Development Company: Update Following Change of Outlook to Stable From Negative

Report

Moody's Investors Service

EUR 231.76 For Business Accounts Only

Dar Al Arkan Real Estate Development Company: Update Following Change of Outlook to Stable From Negative

CORPORATES CREDIT OPINION 10 April 2017 Update RATINGS Dar Al Arkan Real Estate Development Company Domicile Saudi Arabia Long Term Rating B1 Type LT Corporate Family Ratings Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Analyst Contacts Rehan Akbar

10/04/2017 6 EN

Underlying

Dar Al Arkan Real Estate Development Co.

Dar Al Arkan Real Estate Development Company SJSC. Dar Al Arkan Real Estate Development Co SJSC is a Saudi Arabia-based joint stock company engaged in the real estate sector. The Company operates in three segments: DAR Projects, DAR Investments and DAR Properties. The Company, along with its subsidiaries, is active in the business of development, sale and lease of real estate projects and related activities, including construction, maintenance, demolition and reconstruction of residential and commercial buildings. The Company's subsidiaries include Dar Al-Arkan Properties Company, Dar Al-Arkan Projects Company, Dar Al-Arkan Commercial Investment Company, Dar Al-Arkan Sukuk Company, Sukuk Al-Arkan Company, Thawabit Investment and Siyada Investment Company. The Company's projects include Al-Qasr Mall, Shams Al-Arous Project, Shams Alriyadh Project, Al Qasr Project, Al Tilal Project and Qasr Khozam.

See profile

SA11U0S23612 Saudi Stock Exchange Saudi Arabia

Provider

Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

See profile

Other Reports on these Companies

Tellimer

Dar Alarkan: Q3 23 Company Update | Lower RE transaction to impact demand outlook

Lower RE transaction to impact demand outlook We maintain our Neutral rating on Dar Al Arkan with a revised PT of SAR15.6. We believe the overall slowdown in the real estate market and high interest rates will have a negative impact on the company’s earnings. In 2023f, we expect revenues to decline by 23.7% yoy to SAR3.0bn while net income is expected to reach SAR398mn (-9.9% yoy). The stock is trading at a 2023f P/B of 0.91x, higher than its historical average of 0.65x. We highlight that the...

PREMIUM

August 2, 2023 August 2, 2023 1 EN

Tellimer

Dar Alarkan: Strong earnings growth on higher property sales

Dar Al Arkan reported an in-line set of Q3 22 results, with net income of SAR79.4mn (+216% yoy, -14.2% qoq). This compares with the SNB Capital estimates of SAR82.5mn. Revenue increased by 24.7% yoy (+9.5% qoq) to SAR743mn, in-line with our estimate of SAR713mn. Gross margins improved by 461bps yoy to 41.0% vs our estimate of 37.0% due to higher margin developed properties in the sales mix. However, this was offset by the higher non-opex driven by increased finance costs and lower income from...

PREMIUM

November 10, 2022 November 10, 2022 1 EN

Tellimer

Dar Alarkan: Weak earnings on lower than expected revenues

Dar Al Arkan reported a weaker than expected set of Q2 22 results, with net income of SAR92.6mn (+313% yoy, -58.1% qoq). This is significantly lower than our estimates of SAR153mn and the consensus estimate of SAR141mn. We believe the negative variance was mainly due to 1) lower than expected revenue on lower property sales, 2) higher opex due to an increase in marketing expenses related to the new projects. However, this was partially offset by higher than expected gross margins and a declin...

PREMIUM

August 28, 2022 August 28, 2022 1 EN

Moody's Ratings affirms Adaro Indonesia's Ba1 ratings; outlook remains stable

Moody's Ratings (Moody's) has affirmed Adaro Indonesia (P.T.) (AI)'s Ba1 corporate family rating (CFR) and the Ba1 rating on its backed senior unsecured notes. The notes are guaranteed by AI's parent Adaro Energy Indonesia Tbk (P.T.) (Adaro Energy). Moody's has also maintained the stable outlook. ...

EUR 168.07

47m 47m 1 EN

PVH Corp. - February 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

EUR 700.28

59m 59m 1 EN

Singapore Technologies Engineering Ltd. - December 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

EUR 700.28

59m 59m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Dar Al Arkan Real Estate Development Company: Update Following Change of Outlook to Stable From Negative

Dar Alarkan: Q3 23 Company Update | Lower RE transaction to impact demand outlook

Dar Alarkan: Strong earnings growth on higher property sales

Dar Alarkan: Weak earnings on lower than expected revenues

Moody's Ratings affirms Adaro Indonesia's Ba1 ratings; outlook remains stable

PVH Corp. - February 2024 (LTM): Peer Snapshot

Singapore Technologies Engineering Ltd. - December 2023 (LTM): Peer Snapshot

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe