Dar AL-Arkan opens Al-Qasr Mall (3168F)

TIDM44GO

RNS Number : 3168F

Dar Al-Arkan International Sukuk II

14 June 2012

Dar AL-Arkan ("DAAR") announces the opening of Al-Qasr Mall

Dar Al-Arkan Real-estate Development Company announces the opening of Al-Qasr Mall in Riyadh today, Wednesday the 13(th) June 2012.

Al-Qasr Mall was designed in accordance to the highest globally adopted architectural and engineering standards. Al Qasr Mall, the largest mall in Riyadh, extends over a land area of 62,000 sqm, has a net leasable area of 85,000 sqm, and extends to 250,000 sqm of build up area. The Mall has large open areas and wide concourses, which provides an attractive shopping environment for visitors. Al Qasr mall external facade was uniquely designed to be used at night as a moving hoarding of 800 meter in length, which can be used to broadcast advertising/media messages, making the mall unique of its kind in the Middle East. Furthermore, Al Qasr Mall is also equipped with state of the art building management system (BMS) from "Schneider", which uses more than 100,000 electronic sensors across the mall to control, monitor and optimize the building's facilities, mechanical, and electrical equipment for comfort, safety, and efficiency, managing all the systems such as power, illumination, security and observation, escalators, elevators, fire alarm and safety, trace heating/cooling, and other engineering systems.

Al-Qasr Mall is conveniently located in the mid southern area of Riyadh on Al-Swiedi road off King Fahd high way in a densely populated part of the city that has a shortage of similar high quality malls in comparison to the North and East of Riyadh. The Mall comprises 350 stores/shops, fun zone, food court, and two parking floors; with a total capacity of 2,200 parking spaces providing ample parking for Mall visitors. Al-Qasr Mall has a large catchment area with more than 2 million people living in its radius. More than 80% of the mall's capacity was leased out in a very short of time.

A number of international and regional brands have leased space in Al-Qasr Mall such as Carrefour, Al Shaya (H&M, Peacock, Payless, Next, Vision Express, Pink Berry, Claire's, Castania Nuts, Mother Care, Boots, Dorothy-Parkins, MilanoEvans, Victoria), Dar Al Bander Co./Land Mark Group (Centre Point, City Max, Iconic, Shoe Express, Carpisa, Bossini, New Look & Koton), Dana for Trading Co. (Mango, ADK, Blanco, Fridays Project), Anwal for Trading Co. (Cache cache, Etam & Etam Lingeria, Prafios & Marrow), Red Tag, SACO, and others are also present.

In addition to the shops, the mall provides large recreational and entertainment areas for families and children, which will be operated by Al-Othaim for Entertainment. Al-Othaim is introducing to the Kingdom the latest entertainment facilities.

Al Qasr mall leasing ratio stands at 80%, and lease income will reflect gradually on the growth of DAAR leasing revenue from Q3 2012 onwards. DAAR intends to retain Al Qasr Mall as a leasable asset as part of its investment properties portfolio.

For further information, please contact our Investor Relations team [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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