Riyadh – Mubasher: The board of Saudi Real Estate Company (Al Akaria) has accepted the resignation of Ibrahim bin Mohamed Alalwan from his position as CEO and Managing Director.

The resignation, dated 27 May 2024, was ascribed to personal reasons, according to a bourse filing.

The board decision will take effect on 31 July 2024.

 It is worth noting that Al Akaria reported a 67.41% annual plunge in net profit to SAR 2.90 million in the first quarter (Q1) of 2024 from SAR 8.90 million in Q1-23.