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Emaar, the Economic City (“EEC”), the master developer of King Abdullah Economic City (“KAEC”), today (Wednesday 3rd April 2024) announces the Board of Directors’ decision to appoint Mr. Abdulaziz Ibrahim Alnowaiser as its new Chief Executive Officer, effective May 1st, 2024. Image courtesy: King Abdullah Economic City
Riyadh – 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 million in 2024, compared to SAR 1.03 billion in 2023, as per the financial results.
Loss per share amounted to SAR 2.17 last year, up from SAR 0.48 in 2023.
At the end of September 2024, Emaar The Economic City reported net losses worth SAR 1.15 billion, higher by 2,253% YoY than SAR 49 million.
Source: Mubasher
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