Dar Al Arkan Real Estate Development Company achieved a 605.2% increase in annual net profit to reach 132.5 million riyals by the end of 2021, compared to profits of 18.8 million riyals in 2020.
According to Arabiya Net, the company explained in a statement that the reason for the rise is mainly due to the increase in real estate sales.
It showed that the decrease in rental income and the rise in operating costs, along with the rise in financing burdens with the decrease in other non-operating revenues realized from Islamic Murabaha, was compensated by the increase in profits realized from investment. in other companies, which had an impact on the net profit.
