22 Hrs
Source:
شبكة راية الإعلامية
Arkan Real Estate reports $18M profit in H1
Arkan Real Estate Company achieved a net profit of $17.98 million during the first half of 2026, up from $14.42 million in the same period of the previous year. This growth was supported by improved real estate activity and better performance of investment portfolios. The real estate activity, which had incurred a loss of $1.58 million in the first half of 2025, returned to profitability with a profit of $930,000 in 2026, driven by land sales and development projects totaling $3.47 million, despite rising land costs. Meanwhile, investments remained the main source of profits, recording earnings of $19.99 million compared to $21.61 million in the prior year. Distribution income from assets increased to $18.48 million from $15.86 million, even though interest income decreased to $1.10 million. Losses from declining real estate investments were reduced to $2.38 million from $5.20 million, and the expected credit loss provision of $694,000 was eliminated, contributing to the overall improvement in net profits.
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