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  • 02-03-20

    Saudi Arabia: Knowledge Economic City reports net profit of SAR 18.15 million

    (MENAFN) Net revenue of SAR 18.15 million for the financial year 2019 was reported by Knowledge Economic City (KEC) from a net loss of SAR 39.33 million that was reported in 2018.


    As said in a statement by Knowledge Economic City, the income rise is attributed to upper operating income linked to sold units and land.


    The developer also mentioned the fair revaluation of its stake in an affiliate after the full gaining as a reason for realizing a net income in financial year 2019.


    In the fourth quarter of 2019, Knowledge Economic City reduced its losses by 67.4 percent to SAR 1.47 million.

    MENAFN0203202000450000ID1099784104

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