Riyadh - Mubasher: Emaar the Economic City appointed Fahad Abduljalil Al Saif as its Chairman for the coming three years, according to a bourse disclosure.
The company also chose Jamal Majid bin Theniyah to be the Vice Chairman.
The new officials, who serve as non-executive members, assumed their new roles for the board term that started on 26 September 2023 and will remain in position until 25 June 2026.
During the first half (H1) of 2023, Emaar The Economic City incurred net losses after Zakat and tax worth SAR 76 million. Meanwhile, the revenues grew by 254.54% to SAR 585 million.
In the second quarter (Q2) of 2023, the company reported net profits of SAR 95 million, compared to losses of SAR 251 million in Q2-22. Quarterly revenues leapt by 448.72% to SAR 428 million.
