Sun 26 Sep 2010 07:52 AM
Saudi Al Gusaiyer
5

Saudi Al Gusaiyer

Industry: Real Estate

Designation: Saudi based Dar Al Arkan Real Estate Development saw second-quarter earnings tumble by almost 30 percent to $222.8m due to a sales decline of land that is ready for building.

Country: Saudi Arabia

Occupation: Saudi based Dar Al Arkan Real Estate Development saw second-quarter earnings tumble by almost 30 percent to $222.8m due to a sales decline of land that is ready for building.

$445,600

Dar Al Arkan Real Estate

Saudi Arabia

Saudi based Dar Al Arkan Real Estate Development saw second-quarter earnings tumble by almost 30 percent to $222.8m due to a sales decline of land that is ready for building.

On a more positive note, CEO Saudi Al Gusaiyer has high hopes for the next five years and has earmarked a significant rise in rental incomes in the future.

"We expect a rent income of between SR300-350m in 2011 alone. It will gradually rise to one billion riyals in annual revenue by end-2015," Gusaiyer said, earlier this year.

Though times are tough, Dar Al Arkan's employees are still pushing hard. It's 500-strong workforce notched up a per-person return of $445,600 in the first half - a solid performance in the Gulf's current real estate climate.