Emaar The Economic City (4220)

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News

22 February 02:55 PM Emaar The Economic City names Al Azzawi as new Chairman

Riyadh - Mubasher: Emaar The Economic City announced Muhannad Al Azzawi as the board’s Chairman on 19 February. This appointment followed the resignation of Fahad Abduljalil Al Saif, according to a bourse filing. Al Azzawi brings over 32 years of …

Management Decisions

12 November 2025 02:08 PM Emaar The Economic City unveils 182.5% higher revenues in 9M-25, accumulated losses

Riyadh – Mubasher: The net losses of Emaar The Economic City plummeted by 73.80% to SAR 302 million in the first nine months (9M) of 2025 from SAR 1.15 billion in 9M-24. The loss per share hit SAR 0.58 in 9M-25, an annual decline from SAR 2.20, …

Financial Results

12 August 2025 07:19 AM Emaar The Economic City posts 76% lower losses in H1-25; accumulated losses near 3% of capital

Riyadh – Mubasher: Emaar The Economic City incurred net losses valued at SAR 167 million in the first half (H1) of 2025, an annual plunge of 75.93% from SAR 694 million. Meanwhile, the revenues hiked by 114.66% to SAR 322 million in H1-25 from SAR …

Financial Results

6 April 2025 05:46 PM Emaar The Economic City submits capital hike file to CMA

Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) applied to the Capital Market Authority (CMA) to increase its capital through debt conversion, according to a bourse filing. The transaction will be implemented through …

Corporate Actions

27 March 2025 03:55 PM Emaar The Economic City incurs SAR 1.1bn losses in 2024

Riyadh – Mubasher: Emaar The Economic City suffered 348.62% year-on-year (YoY) higher net losses at SAR 1.13 billion at the end of December 2024, compared to SAR 253 million. The group posted 58.68% year-on-year (YoY) lower revenues at SAR 426 …

Financial Results

1 January 2025 01:50 PM Emaar The Economic City capital obtains EGM’s nod for 54% capital cut

Riyadh – Mubasher: The shareholders of Emaar The Economic City passed the board’s recommendation to decrease the company’s capital by %53.83, according to a bourse disclosure. The extraordinary general meeting (EGM) approved, on 31 December, …

General Assembly

9 December 2024 11:17 AM CMA approves Emaar The Economic City’s capital reduction

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Emaar The Economic City (EEC) to lower its capital to SAR 5.23 billion from SAR 11.33 billion. Following the transaction, the number of shares will be reduced from 1.13 …

Corporate Actions

28 October 2024 09:47 AM Emaar The Economic City suffers 2,253% higher losses in 9M-24

Riyadh – Mubasher: Emaar The Economic City incurred net losses amounting to SAR 1.15 billion in the first nine months (9M) of 2024, an annual leap of 2,253% from SAR 49 million. The revenues stood at SAR 241 million in January-September 2024, …

Financial Results

22 September 2024 09:25 AM Emaar The Economic City submits capital cut request to CMA

Riyadh – Mubasher: Emaar The Economic City (EEC) submitted an application file to the Capital Market Authority (CMA), on 20 September 2024, to lower its capital. The group will cancel 563.11 million shares valued at SAR 5.63 billion to reduce its …

Management Decisions

9 September 2024 02:11 PM Emaar The Economic City unveils new strategy to enhance financial operations

Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) approved a transformative business strategy in line with Saudi Vision 2030, according to a press release. This strategy covers a SAR 8.70 billion capital optimisation plan (COP) …

Real estate

11 August 2024 00:57 PM Emaar The Economic City’s losses deepen 813% in H1-24

Riyadh – Mubasher: The net losses of Emaar The Economic City hiked by 813.15% year-on-year (YoY) to SAR 694 million in the first half (H1) of 2024 from SAR 76 million. The revenues amounted to SAR 150 million in H1-24, down 74.35% from SAR 585 …

Financial Results

14 May 2024 11:06 AM Emaar The Economic City sustains 106% YoY higher loss in Q1-24; accumulated losses near SAR 5.3bn

Riyadh – Mubasher: Emaar The Economic City incurred a net loss of SAR 352 million in the first quarter (Q1) of 2024, up 105.84 year-on-year (YoY) from SAR 171 million. Revenues plunged 52.22% YoY to SAR 75 million in Q1-24 from SAR 157 million, …

Financial Results

6 May 2024 03:38 PM Emaar The Economic City partners with Aramex to endorse logistics sustainability in KAEC

Mubasher: Saudi Arabia’s Emaar The Economic City has teamed up with the UAE-based Aramex to advance sustainable logistics solutions in King Abdullah Economic City (KAEC), according to a press release. The agreement aims to minimise environmental …

Companies Investments

3 April 2024 00:00 PM Emaar The Economic City’s board hires new CEO

Riyadh – Mubasher: Emaar The Economic City’s board appointed Abdulaziz Ibrahim Alnowaiser as CEO. Alnowaiser will assume the position as of 1 May 2024, according to a bourse filing. The board appointed incumbent CEO Cyril Piaia as advisor …

Management Decisions

1 April 2024 06:10 PM Emaar The Economic City extends SAR 1bn loan duration with PIF

Riyadh – Mubasher: Emaar The Economic City has rescheduled, on 1 April 2024, a facility agreement offered by the Public Investment Fund (PIF) to be extended from 18 months to 21 months. The loan is worth up to SAR 1 billion and was originally …

Real estate

31 March 2024 07:07 PM Emaar The Economic City records 78% lower net losses in 2023, unveils accumulated losses

Riyadh – Mubasher: Emaar The Economic City registered a 78.13% decrease in net loss during 2023 to SAR 253 million from SAR 1.15 billion in 2022. The loss per share also plunged to SAR 0.22 last year when compared with SAR 1.02 in 2022, according …

Real estate

27 February 2024 11:26 AM Emaar The Economic City’s board approves CEO’s contract non-renewal

Riyadh – Mubasher: Emaar The Economic City’s board of directors approved a request by incumbent CEO Cyril Piaia for not renewing his contract. Piaia’s contract is set to end on 31 August 2023, according to a bourse filing. Moreover, the company …

Management Decisions

9 November 2023 01:38 PM Emaar The Economic City’s revenues leap 308% in 9M-23; accumulated losses unveiled

Riyadh – Mubasher: Emaar The Economic City posted a 92.44% drop in net losses after Zakat and tax to SAR 49 million during the first nine months (9M) of 2023, compared to SAR 648 million in 9M-22. The listed firm generated revenues worth SAR 926 …

Financial Results

17 October 2023 06:05 PM Emaar The Economic City unveils key appointments

Riyadh - Mubasher: Emaar the Economic City appointed Fahad Abduljalil Al Saif as its Chairman for the coming three years, according to a bourse disclosure.  The company also chose Jamal Majid bin Theniyah to be the Vice Chairman.   The new …

Management Decisions

10 August 2023 10:53 AM Emaar The Economic City’s losses shrink 82% in H1-23

Riyadh – Mubasher: Emaar The Economic City recorded 81.77% lower net losses after Zakat and tax at SAR 76 million in the first half (H1) of 2023, versus SAR 417 million in H1-22. The revenues hiked by 254.54% to SAR 585 million during January-June …

Financial Results

2 July 2023 06:26 PM Emaar The Economic City sells asset to several parties including PIF unit

Riyadh – Mubasher: Emaar The Economic City announced the sale of an undeveloped industrial plot to four parties, of which one is a subsidiary of Saudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF). The other three parties are Dar …

Companies Investments

21 May 2023 10:25 AM Emaar The Economic City sees higher losses in Q1-23; revenues surge 80.5%

Riyadh – Mubasher: Emaar The Economic City incurred net losses after Zakat and tax valued at SAR 171 million in the first quarter (Q1) of 2023, an annual increase of 3.01% from SAR 166 million. The Saudi firm posted an 80.46% leap in revenue to …

Real estate

2 April 2023 03:58 PM Emaar The Economic City logs SAR 1.15bn losses in 2022

Riyadh – Mubasher: The net losses after Zakat and tax of Emaar The Economic City soared by 38.23% to SAR 1.15 billion in 2022, compared to SAR 837 million in 2021. Revenues amounted to SAR 363 million last year, down 2.42% from SAR 372 million as …

Financial Results

29 November 2022 04:48 PM Emaar The Economic City unveils SAR 359m sale deal

Riyadh – Mubasher: Emaar The Economic City sold an industrial land plot to CEER National Automotive Company at a total value of SAR 359.03 million to be paid over 15 years. CEER, the first Saudi electric vehicle brand, will establish and operate a …

Real estate

8 November 2022 01:30 PM Emaar The Economic City’s losses widen in 9M-22; accumulated losses exceed SAR 4bn

Riyadh – Mubasher: Emaar The Economic City suffered net losses after Zakat and tax worth SAR 627 million in the first nine months (9M) of 2022, higher by 15.04% than SAR 545 million in 9M-21. Revenues declined by 12.02% to SAR 227 million during …

Real estate