{"id":30685,"date":"2016-10-19T16:58:20","date_gmt":"2016-10-19T09:58:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=30685"},"modified":"2016-10-19T15:12:23","modified_gmt":"2016-10-19T08:12:23","slug":"emaar-economic-city-reports-loss-from-lower-margins","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-economic-city-reports-loss-from-lower-margins\/","title":{"rendered":"Emaar Economic City reports loss from lower margins"},"content":{"rendered":"


\nThe Saudi developer Emaar the Economic City (EEC) reported a third quarter loss of 81 million riyals, attributable to lower profit margins and rising expenses and depreciation costs.EEC, the developer behind King Abdullah Economic City, said its bottom line, which fell from an 8m riyal profit in the same period last year, was also impacted by a change in an infrastructure cost estimate of residential land, and a recent court ruling relating to the sale of a development property.Revenue rose 95 per cent year-on-year to 332.2m riyals.The developer last month agreed to a 2.7bn riyal Islamic loan for the financing of the second phase of the King Abdullah Port.Emaar Economic City is the Tadawul-listed developer of King Abdullah Economic City (KAEC) on the Red Sea coast north of Jeddah. The new city is to cover 181 square kilometres and cost US$100m.In February, the KAEC chief executive, Fahd Al Rasheed, said the new city’s master plan was being reassessed in light of the emergence of driverless cars and the internet of things. The master plan has undergone several revisions since the city was announced in 2005.Mr Al Rasheed said in February that the first decade of the city’s development had focused on infrastructure.Through Monday, Emaar Economic City’s shares were down 1.4 per cent for the year to date, versus a drop of 19.4 for the Tadawul index. EEC’s shares opened up about a quarter of a per cent at 12.10 riyals on Wednesday.Dubai’s Emaar Properties owns a 33 per cent stake in Emaar Economic City.business@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Emaar Economic City reports loss from lower margins<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Saudi developer Emaar the Economic City (EEC) reported a third quarter loss of 81...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-30685","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7YV","jetpack-related-posts":[{"id":132115,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-first-electric-car-brand-ceer-to-open-factory-in-king-abdullah-economic-city\/","url_meta":{"origin":30685,"position":0},"title":"Saudi Arabia\u2019s first electric car brand Ceer to open factory in\u00a0King Abdullah Economic City","date":"November 29, 2022","format":false,"excerpt":"\r The company has signed a SAR359 million land purchase agreement with Emaar, The Economic City to develop Ceer\u2019s manufacturing facility\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia\u2019s first electric car brand Ceer to open factory in\u00a0King Abdullah Economic City","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/11\/ceer-factory-1000x667-1.png?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/king-abdullah-economic-city-redraws-master-plan-to-make-way-for-driverless-cars\/","url_meta":{"origin":30685,"position":1},"title":"King Abdullah Economic City redraws master plan to make way for driverless cars","date":"February 23, 2016","format":false,"excerpt":"\r \r The $100 billion King Abdullah Economic City being developed on Saudi Arabia's Red Sea coast will remodel its master plan once again to account for new technology such as driverless cars and the Internet of Things.The chief executive Fahd Al Rasheed said that it was \"currently assessing the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":30685,"position":2},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33268,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-malls-reports-higher-profit-on-rental-income\/","url_meta":{"origin":30685,"position":3},"title":"Emaar Malls reports higher profit on rental income","date":"November 6, 2016","format":false,"excerpt":"\r Emaar Malls reported a 16 per cent rise in third-quarter net profit to Dh435 million as rental income increased.The shopping malls and retail business majority owned by global property developer Emaar Properties, said that rental income for the three months to the end of September 2016 increased 8 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-electric-car-maker-lucid-inks-deal-for-saudi-manufacturing-hub\/","url_meta":{"origin":30685,"position":4},"title":"Luxury electric car maker Lucid inks deal for Saudi manufacturing hub","date":"February 28, 2022","format":false,"excerpt":"\r Lucid signs $30m lease agreement with Emaar Economic City for an industrial plot in King Abdullah Economic City\r \r Source : arabianbusiness.com\r Read more...Luxury electric car maker Lucid inks deal for Saudi manufacturing hub","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/02\/Lucid-Manufacturing-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-developers-eagerly-anticipate-formation-of-saudi-housing-company\/","url_meta":{"origin":30685,"position":5},"title":"UAE developers eagerly anticipate formation of Saudi housing company","date":"April 9, 2016","format":false,"excerpt":"\r \r The revelation by Saudi Arabia that it will launch a state-backed development company in a bid to ease its housing shortage has sparked the interest of UAE developers. Saudi Arabia's housing minister, Majed Al Hogail, told Bloomberg it would create a development company that will give businesses plots\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30685"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=30685"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30685\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=30685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=30685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=30685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}