Follow-ups -eshrag News:
RIYADH: Dar Alarkan Real Estate Development Co. has reported a spike of 515 percent in profits for the first half of 2022 due to higher sales.
The Riyadh-based company’s profits hit SR314 million ($84 million), compared to SR51 million in the year-prior period, according to the bourse filing.
The profit hike was coupled with an increase in revenue of 105 percent year-on-year to SR2.3 billion.
The company attributed its strong performance mainly to higher property sales, reduced lease revenue, and higher operations.
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