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An Emaar Properties unit in charge of developing the King Abdullah Economic City (KAEC) in Saudi Arabia on Saturday said its net profit for 2012 more than doubled those in the previous year.
Emaar The Economic City Company said in a statement on the Saudi bourse that net income for the year totalled SR189.20m, compared to SR82.55m in 2011, an increase of 129 percent.
Operating profit for 2012 was SR219.40m, compared to SR124.78m the previous year, an increase of 76 percent, the company added.
It said the reason for the increase in profit was due to improved sales activity, primarily attributable to an increase in revenue from residential units and industrial plot sales.
The real estate company also said the net increase in total expenses seen in 2012 was in line with the rise in operations and sales.
Emaar Economic City leads the master-planning and development of the 168 million sq m King Abdullah Economic City, a project being built in the north of Jeddah.
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3Actually, there's no evidence that in the UK, these animals are being kept as 'pets' - your quote clearly states 'private keepers' which suggests that... more
Monday, 26 January 2015 3:25 PM - DougI Don't know how this news item helps Emirates. Either they should already have reduced fares or don't say until they actually reduced fares. This news... more
Monday, 26 January 2015 2:00 PM - Alan
it looks like a rooftop parking, without proper safety measures! not sure how the authorities approved such parking slots?
and I think since she was... more
Actually, there's no evidence that in the UK, these animals are being kept as 'pets' - your quote clearly states 'private keepers' which suggests that... more
Monday, 26 January 2015 3:25 PM - DougI Don't know how this news item helps Emirates. Either they should already have reduced fares or don't say until they actually reduced fares. This news... more
Monday, 26 January 2015 2:00 PM - AlanReally brave! I WOULD be amused, however, to see them try this stunt in Saudi Arabia. That would make for a highly amusing video more
Sunday, 25 January 2015 12:59 PM - GlenHere's another example of how selectively freedom of speech is practiced in the West: CNN's veteran anchor Jim Clancy, who served the news network 37 years... more
Sunday, 18 January 2015 6:00 PM - WHJ@PPM - in certain churches (namely Anglican and Lutheran), New Year's Day is the Feast of the Circumcision of Christ. However, New Year's Day is primarily... more
Monday, 5 January 2015 7:44 PM - DougJust when you think they can not do any worse, they come from nowhere to top it. So it is OK for a 50 year old man to marry an 8 year old child but it... more
Tuesday, 6 January 2015 12:29 PM - SAM
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