Riyadh – Mubasher: Emaar The Economic City registered a 78.13% decrease in net loss during 2023 to SAR 253 million from SAR 1.15 billion in 2022.
The loss per share also plunged to SAR 0.22 last year when compared with SAR 1.02 in 2022, according to the financial results.
The revenues, meanwhile, soared by 184.02% to SAR 1.03 billion in 2023 from SAR 363 million in 2022.
Accumulated Losses
Emaar The Economic City incurred accumulated losses worth SAR 4.93 billion as of 31 December 2023, which accounted for 43.58% of the company’s SAR 11.33 billion.
In the first nine months (9M) of 2023, the listed firm incurred net losses worth SAR 49 million and recorded revenues of SAR 926 million.
