Riyadh-Mubasher: Jabal Omar Development, Saudi Arabia's largest listed developer by market value, posted SAR 18.73 million in net earnings for the third quarter ended 29 Ramadan 1436, against net losses of SAR 1.63 million in the year-ago period.
The builder reported net earnings of SAR 243.4 million for the nine-month period, versus losses of SAR 4.6 million a year earlier.
Jabal Omar attributed the earnings to the recognition of revenues from selling residential units at S1 area and making revenues from operating Hilton Suites Hotel. In addition, the company recorded revenues from leasing some malls at the S1 area.
