Riyadh – 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 of 31 December 2021, according to the income statements.

The loss per share reached SAR 1.02 during the January-December 2022 period, higher than SAR 0.90 a year earlier.

Accumulated Losses

The accumulated losses hit SAR 4.70 billion as of 31 December 2022, which is equivalent to 41.38% of the SAR 11.33 billion capital.

In the first nine months (9M) of 2022, Emaar The Economic City reported net losses after Zakat and tax worth SAR 627 million, an annual increase of 15.04% from SAR 545 million.

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