Staff Writer

Saudi-listed Dar Al Arkan has secured the master plan approvals for Shams Ar Riyadh, its flagship ,mixed-use development in capital Riyadh.

Following the approval, the project is expected to be completed before the end of 2026, the developer said in a statement.

Shams Ar Riyadh is a master-planned community located in the north of Riyadh, and will provide 5 million square metres (sqm) of commercial and residential spaces, according to the company's website.

The approvals allow Dar Al Arkan to advance infrastructure works, sales processes, and development activities, the statement added.

Last month, the developer had disclosed that 2.83 million sqm of its land in Riyadh falls under White Land Tax (WLT) based on an initial assessment.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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