Before you get involved in property development or mortgages Sheikh Yousef Al ShelashHe received a Master of Science Degree in Law and Legal Proceedings from Riyadh’s Institute of Public Administration. When he envisioned turning real estate funds into an international business, his extensive education was a major asset. “I had this vision and saw that using my experience in law, I could get into drafting funds,” says Al Shelash.
“People trusted me because I’m a lawyer and were able to start acquiring real estate using those real estate funds, and then [encouraged] others to subscribe to these funds,” explains Yousef Al Shelash. Imam Mohammad Ibn Saud Islamic University awarded him a Bachelor of Science in Shariah. The businessman is also well-trained in financial management and investment evaluation. Also, he’s received diplomas for combating financial crimes and banking.
It was at this time that he founded Dar Al Arkan with five other families, he says, “we were all in our late 20s, so still very young. And there was an opportunity in the market in Saudi because Saudi was newly allowing what you might call in the U.S. real estate funds, although not in the same context of the real estate funds of Saudi Arabia.”
Dar Al Arkan: A range of small projects to sky-high towers
Not only are they listed, but also on the Saudi Stock ExchangeThe company is present in eight countries, and it has shipped 15,000 units. The company’s mission is to offer premier real estate services, such as new homes or property investment. “So Dar Al Arkan started with small, small, small projects, and definitely, the market growth helped,” says Al Shelash. The chairman’s real estate development company went public in December 2007. It’s involved in projects throughout the Middle East, including Dubai, United Arab Emirates; Sarajevo, Bosnia and Herzegovina; Muscat, Oman; and Riyadh, Jeddah, Mekkah, Medina, and Qassim in Saudi Arabia.
“Every future homeowner or investor should enjoy a contemporary lifestyle that matches their aspirations and success, as well as develops and preserves their wealth for future generations,” Dar Al Arkan states on its website. Real estate developer Dar Al Arkan strives to be the best and has established gold standards for residential, commercial, mixed-use, and other projects.
It announced its first European residential project in 2020. It’s located in Bosnia and Herzegovina, and the 500,000-square-meter luxury development, which is being built inside a lush forest, is 30 minutes from the capital city of Sarajevo. “Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina, a beautiful cultural destination, has rich history and traditions and is home to a stunning natural environment. The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country’s developing luxury tourism and hospitality sector,” said Yousef Al Shelash. It will offer a tranquil haven to those who wish to enjoy luxury services and facilities in a secure, gated community. This development should be attractive to both Bosnian as well international investors.
Yousef Al Shelash’s Early Influences and Career Highlights
According to Al Shelash, who is also the chairman of Bahrain’s Bank Alkhair and the chairman of Saudi Home Loan Co., he’s “fulfilling a commercial target by generating for the shareholders of the company that requires right of return. Because they work in reality, they also help build communities, families, and cities. So I am building homes.” Through years of hard work and dedication to his dream, Al Shelash started acquiring real estate using those real estate funds and then helped more people subscribe to the funds.
From watching his father’s work, he learned a lot about the industry. real estate. “I grew up with a father who believed in real estate investing,” explains Al Shelash. His father, in fact, was involved with land trading in Palestine during the 1940s. Eighty years later, the three companies under Yousef Al Shelash’s chairmanship translate into about 55 billion riyals — approximately $15 billion — of assets under management.
Aida, Oman is one of the most remarkable projects by the Dar Al Arkan visionaries. The development is located just 20 minutes away from Muscat’s downtown. It features stunning glass pods high up in the hills, along with medium-sized townhouses and apartments at low heights. According to Al Shelash, the company is proud that “engineering-wise, this has never been done before anywhere in the world. We are suspending pods from the mountain and doing it at a five-star hotel level.” Much research and development are currently underway, and according to Al Shelash, “Even the architect who designed the product still can’t believe we are going to find a way to suspend these pods.”
It is also trying to establish itself as a company. a top developer of luxurious living spaces Dubai. The second Missoni Home residential tower to feature interiors is Urban Oasis by Missoni Home. It is heavily inspired by Miami’s style and feels. “The project’s location is one of the most sought-after in the city, and we’re happy to have our first flagship development in the United Arab Emirates. Working with Missoni is a clear indication of our continued dedication to providing our clients and investors with the highest standards of luxury living,” stated Ziad ElChaar, vice chairman of Dar Al Arkan.
Livio Profi, the CEO of Missoni, added, “We’re delighted to be working with Dar Al Arkan on the Urban Oasis project, our first in the region, and are excited to be furnishing these incredible apartments with the finest fabrics and Miami-inspired design, which will give the homes a unique and original finish.” In April 2021, Yousef Al Shelash attended the topping out of the Urban Oasis tower at 34 stories. This project should be finished by 2023.
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