< Knowledge Economic City Company incurred losses of 5.29 million riyals in the first quarter of this year, in exchange for profits amounting to 19.564 million riyals in the same period last year.

According to ArabiaNet, the company's financial data showed that the company's revenue fell 69.6% to 24.93 million riyals, compared to 82.135 million riyals during the same period last year. < / p>

The company said that the spread of the Corona virus, caused a situation of fluctuation and disruption in business and economic activities and impact on the global economy. The Group does not expect any impact on the balances as of March 31, 2020, especially with regard to any decrease in the value of investment properties and real estate under development due to the nature of real estate and profit margins, as indicated.

The administration and those charged with governance will follow up and monitor developments and impacts, and will inform shareholders of the developments as soon as more information is available.

Also, based on the financial position and assessment of possible scenarios, management does not believe that there are risks related to continuity.