Saudi Arabia .. “Dar Al -Arkan” rises to the highest price in 195 months

The shares of Dar Al -Arkan Real Estate Development Company, which is raised and traded in the Saudi market “Tadawul”, increased by 2.67% during trading today, to trade at the price of 21.54 riyals per share, to reach its highest price in 195 months.

The trading on the shares of Dar Al -Arkan Real Estate Development Company at that time came through 1.22 million shares with a value of trading 26.75 million riyals.

The highest price for the share at that time was at 22.16 riyals, while the lowest price was at 21.50 riyals, to touch the highest price in 16 years, 3 months and 4 days.

Dar Al -Arkan Real Estate Development Company increased its net profit by 32.1% during the year 2024, compared to the previous year.

The company recorded a net profit of 806.84 million riyals during the year 2024, compared to 610.76 million riyals in 2023.

The company also witnessed a remarkable growth in sales/revenues by 38.86% on an annual basis, to reach 3.76 billion riyals, compared to 2.71 billion riyals in the previous year, driven by the increase in real estate sales.

Dar Al -Arkan said in its statement that the growth in net profits is mainly due to the increase in real estate sales. She added that the high operating costs and financing burdens, as well as a decrease in the return from investments in associate companies, have been compensated by the high revenues of rental and the increase in other non -operational revenues, especially those achieved from Islamic murabaha, which contributed to supporting net profits.