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RIYADH: The Saudi-listed developer, Arriyadh Development Co., has acquired a commercial building at SR168 million ($44.7 million) in the north of Riyadh, according to a bourse filing. The deal is part of plans to diversify the company’s real estate and investments portfolio, it said in a statement. The building is located in Al-Malqa district, which is near the strategic
RIYADH: Shares of Arriyadh Development Co. fell 3.23 percent at SR22.74 as of Tuesday's closing bell, after its first-half profits dropped 22.9 percent to SR196 million ($52 million). This is compared to SR254 million profit the company made in the same period last year, the Riyadh-based developer reported in a bourse filing. Its results stemmed from a 22-percent reduction in
RIYADH: Saudi stocks extended gains on Monday on the back of strong earnings and economic growth, after logging a monthly gain of 5.9 percent for July. Tadawul’s TASI was up 1.2 percent to 12,338, while the parallel Nomu market advanced 0.5 percent to 21,502. The Kingdom’s gross domestic product grew at the fastest rate since 2011 at 11.8 percent in the second quarter of 2022,
RIYADH: Saudi developer Arriyadh Development Co. has seen its net profit increase by 25 percent during the first quarter of 2022 despite a drop of 3 percent in operating revenues. The company made SR139 million ($37 million) in profit, compared to SR111 million for the same period a year earlier, according to bourse filing. The Riyadh-based firm attributed the increase in
RIYADH: Saudi Arabian stocks snapped a series of gains to end lower on Tuesday in line with oil prices. The main TASI index was down 1.1 percent to 13,505 in one of its biggest daily drops recently, and the parallel Nomu market slipped 0.5 percent to 24,088. Dubai and Kuwait led the gainers in the GCC, up 1.6 and 1 percent, respectively. Stock markets in Qatar and Oman