Businessman Yousef Al-Shelash has been named as one of the World's 100 Most Powerful Arabs in a latest listing.

He was recognized by the "Arabian Business" in its 2014 listing for his outstanding role in many regional and international institutions, including Dar Al-Arkan Real Estate Development, one of the largest real estate development companies in Saudi Arabia of which he is the chairman.  He is also the chairman of Bank Alkhair, a Bahrain-based Islamic investment wholesale bank and chairman of a group of other pioneering companies.

Profiling Al-Shelash, "Arabian Business" noted that Saudi Arabia is now planning to build 500,000 housing units to cover the population growth, as the Saudi population nears 30 million. As the chairman of Dar Al-Arkan, the largest real estate developer listed on the Saudi Arabia Stock Exchange, Al-Shelash's dynamic role will be significant to the kingdom's real estate development process, the magazine reported.

Commenting on the announcement, Al-Shelash said that he is proud of the recognition. He praised the employees and shareholders for their important roles in the institutions under his chairmanship. "This selection is a result of their accomplishments, first and foremost," he said.

In addition, he also said that he will work to further the growth and development process of Bank Alkhair, including expansion of operational activities to secure fixed and sustainable income sources by exploring future growth opportunities in the Middle East and North Africa region.

Last year, Forbes Middle East also honoured Al-Shelash when it listed Dar Al-Arkan as the first real estate development company among the Most Powerful Arab Companies. This selection underlined Dar Al-Arkan's outstanding position as the largest real estate developer in Saudi Arabia. - TradeArabia News Service