* To hold investor call Tues ahead of possible sukuk - leads
* Benchmark, dollar sukuk targeted
* Eight banks chosen to arrange call, possible deal (Adds banks, sukuk size, context)
DUBAI, May 19 (Reuters) - Saudi Arabia's Dar Al Arkan Real Estate Development Co will hold talks with international investors on Tuesday as it attempts to issue a benchmark-sized, dollar-denominated Islamic bond, a document from lead arrangers said.
The developer will hold a global investor call on May 20, having chosen eight banks in total to arrange both it and the potential sukuk that may follow, the document said.
Benchmark size traditionally means around $300 million for issuers classified as high-yield - meaning they pay a higher interest rate because of their low credit rating.
Dar Al Arkan is rated B+ by Standard & Poor's, four notches below the lowest investment grade score, albeit with a positive outlook.
The developer has chosen Alkhair Capital - a unit of Bahrain-based Bank Alkhair, whose chairman is the same as Dar Al Arkan's - Deutsche Bank, Emirates NBD and Goldman Sachs as coordinators and bookrunners of the potential deal.
Abu Dhabi-based Al Hilal Bank, as well as Qatari trio Al Rayan Investment, Barwa Bank and QInvest are classified as bookrunners, the document added.
Dar Al Arkan said in a bourse filing on Monday that any sukuk which followed meeting investors would come from the firm's established sukuk programme.
The developer has issued $750 million of a $1.2 billion debt issuance programme which is valid until November 2014, a company representative said in February, adding a new issue might happen under the programme subject to market conditions. (Reporting by David French; Editing by Matt Smith and Mark Potter)