Saudi's Dar Al-Arkan net income falls 53%

23 October 2010

Saudi-based developer, Dar al-Arkan Real Estate has posted a 53% fall in its third-quarter net income to SR289.6m ($77.22m), down from SR616.2m in the same period last year, Reuters has reported. The company cited the decrease in sales was coupled with lower profit margins incurred on land and residential unit sales, attributable to the geographical locations of the products sold, as well as the slower summer period which included the Muslim holy month of Ramadan.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications