Arriyadh Development Co. posts a forty percent jump in net profit to $85 million for 2021.
The Riyadh-based developer made SR318.3 million ($85 million) in profit, compared to SR227.9 million a year earlier, it said in a bourse statement on Tadawul.
Results were derived from the associate company’s business, as well as the increase in operating and rental revenues.
Additionally, the company will distribute cash dividends of SR88.8 million to the shareholders for the second half of 2021.
Established in 1993, Arriyadh offers real estate products in various real estate areas in the kingdom.