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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Alhokair trims H1 loss by 49%

The contract has been awarded for catering services in a NEOM residential complex.
By TRENDS Desk
August 28, 2022 12:51 pm
  • The hospitality group recorded  a 6.4 percent rise in revenue to $93.66 million that helped bring down the group's loss
  • Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors

Alhokair Group has trimmed down its loss by 49 percent to $18 million in the first half of 2022, from $35.39 in the same period of last year.

The hospitality group recorded  a 6.4 percent rise in revenue to $93.66 million that helped to bring down the group’s loss.

Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors by 4.6 percent and 9.2 percent, respectively.

The group’s accumulated losses reached 52.1 percent of capital by June end, which it attributed to pandemic repercussions and the emergence of the Omicron variant.

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