the losses of Emaar the Economic City in Saudi Arabia increased by 93% in the second quarter of 2020 to reach 205 million riyals.
According to CNBC Arabia, the company attributed the increase in losses in the second quarter to a decrease in revenues from projects and operations due to the slowdown in the real estate sector and the continuing impact of the outbreak of the Coronavirus pandemic.
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while the company's losses increased in the second half by 390% to reach 486 million riyals.
The accumulated losses of the company amounted to 1.9 billion riyals, representing 22% of the capital.
(Amazon fun knowledge)
