Design Project Management - Assignment Example

During the initial19 months from June 2002, the Corporate status of Dar Alaskan was of a Limited Liability Company, with a capital of US Dollars 37 Million ( SAR140Million), which was subsequently enhanced to USD 1.44 Billion( SAR5.40 Billion), via Private Placement and it was converted into a Private Limited Partnership. It became a Joint Stock Company in 2005. It was enlisted at the Saudi Bourse in 2007. As of 31st December 2008, the issued Capital of Dar Al Arkan stood at USD 1.92 Billion (SAR7.2 Billion) consisting of shares of the denominationSAR10 each (USD 2.67). A year later 180 Million bonus shares with a par value of SR10 each were issued to existing share Holders.

Retained earnings of past years had funded the above-said bonus issue. The spectacular growth of the Company from a Small Scale Real Estate developer to one among the biggest in the Saudi Kingdom was possible only because of the consistent high profitability of operations in the past five years.  Benefiting from the country’s economic growth, the company has up-scaled its activities. Dar Alarkran is in the vanguard of those providing Master-Plan-based development of LifeStyle accommodation in the private sector, in the KSA.

The rapidly growing demand from the Middle Class accounts for the Company’s Growth tempo. The Demographic profile of KSA in 2005 had shown a trend of growth in the youth segment prompting the company to be confident of future growth I demand its products from a steadily expanding number of new Households in the foreseeable future. Currently, Capital Intelligence Ltd has given the Company Credit Rating, “A “with a stable outlook. Besides its headquarters in Riyadh, The Company has Branches and offices all over KSA, including the holy cities of Jeddah, Mecca, and Madinah.

The Company(DAAR) is presently executing one of its most design and construction significant projects, reflecting the true state of the art in Real estate development—the  SHAMS ARRIYADH project. Both the design and the construction activities for the project are in-house – to be done by the company. A futuristic habitat, Shams Arriyadh will be the base on which future development of the city will occur.