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FINANCIAL NEWS
Saudi listed property firms post USD208m profit in Q1
11 May 2015
(MENAFN) Saudi Arabia’s listed real estate companies posted a profit of about USD207.97 million in the first quarter of the year, marking an increase by 52 percent compared to last year, Arab News reported.
The profit in the corresponding period last year was logged at USD136.98 million. Nonetheless, the sector’s overall profits decreased by 29.6 percent against the fourth quarter of 2014.
In addition, the sales of real estate companies decreased by 20.4 percent in the first quarter of the year, according to a corporate fiscal report.
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