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RIYADH: Saudi developer Dar Al Arkan said first quarter net income more than doubled as it boosted margins on property sales. Net income jumped by almost 130 percent to SR28.5 million ($7.6 million) compared to a year earlier, the company said in a stock exchange filing on Sunday. Overall sales dipped by about 6.4 percent to SR554.8 million. Despite a drop in leasing revenue
(Bloomberg) Dubai’s benchmark stock index advanced the most among Gulf peers as real estate shares extended gains.The Dubai Financial Market General Index rose as much as 1.3%, up for a fifth day in its longest winning streak since March. The sub-index tracking Dubai-based real estate shares climbed as much as 2.4% on Sunday, touching the highest level since November 2019. Those shares are trading higher amid a residential property price rally Morgan Stanley sees lasting for years.Morgan Stanley Sees Dubai Property Rally Lasting for YearsVaccinations are “helping a lot the reopening theme from an investment case perspective,” particularly in the United Arab Emirates and Saudi Arabia, Ali El Adou, head of asset management at Daman Investments in Dubai, said in an interview with Bloomberg TV. The UAE, a federation of seven sheikdoms including Dubai, has one of the highest inoculation rates globally.“We’re still bullish, in terms of that theme, especia
The Turning Point is a series of short articles that focuses on the moment when an entrepreneur hit upon their winning idea. Today, we look at Verloop.io, which pivoted from connecting brands with customers to helping people connect to essential resources during the pandemic.