21 Oct 2010
(MENAFN) Dar Al-Arkan Real Estate said that its third-quarter net income fell 53 percent due to lower land and home sales, falling short of analyst’s estimates, Reuters reported.
The company, Saudi Arabia’s largest real estate firm, made a net profit of $77.22 million in the quarter, down from $164 million in the same period last year, it said in a statement on Nasdaq Dubai.
Net income for the nine-month period fell to $293 million from $453 million, while third quarter net income fell 33.7 percent from the second-quarter, it said.
The developer expects rent income to gradually rise from near-zero last year to $267 million by end-2015, its general manager Saud Al-Gusaiyer told Reuters in August.
24 May 2023
Empowering Success: BBK and BIBF honor 24 graduates of the BBK’s Women on Board Programme
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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