The net profit of Dar Al-Arkan Real Estate Development Company – “Dar Al-Arkan”, increased by 215.5% in the third quarter of 2022, to about 79.4 million riyals, after zakat and taxes, compared to about 25.17 million riyals in the same quarter of 2021.
Dar Al-Arkan’s profits declined in the third quarter of 2022, compared to a net profit of approximately 92.6 million riyals in the second quarter of 2022.
In a statement to Saudi Tadawul, Dar Al-Arkan attributed the increase in earnings in the third quarter of 2022, on an annual basis, to the increase in real estate sales.
The company’s sales increased 24.7% in the third quarter of 2022, to approximately 742.5 million riyals, compared to 595.4 million riyals in the same quarter of 2021.
Dar Al-Arkan’s net profit increased by 416% in the first nine months of 2022, to around 393 million riyals, compared to 76.1 million riyals in the same period of 2021.
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