By: Thabet Shehata
Riyadh – Mubasher: Net profits of Saudi Arabia's real estate sector surged 2.86% in the fourth quarter, while registered a 23.68% drop in the full-year 2017.
Saudi Arabia-listed developers’ net profit increased to SAR 609.18 million in Q4-17 versus SAR 592.25 million in the year-ago period.
Meanwhile, the annual net profit of the developers dropped to SAR 1.35 billion last year, compared to SAR 1.77 billion in 2016, Mubasher’s data showed.
Emaar The Economic City's profits soared 29.6% year-on-year to SAR 180 million in the three-month period ended 31 December.
Translated by: Muhammad Khalid