Emaar the Economic City’s net losses narrowed by 19% in 9 months 

Emaar the Economic City’s net losses narrowed by 19% in 9 months 
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Updated 10 November 2021

Emaar the Economic City’s net losses narrowed by 19% in 9 months 

Emaar the Economic City’s net losses narrowed by 19% in 9 months 

JEDDAH: Saudi Arabia’s Emaar the Economic City (EEC) reported that its net losses narrowed by 19 percent in the first nine months of 2021 from a year ago. 

The net losses for Jan-Sept. reached SR545 million ($145 million), down from SR674 million in the same period a year ago, according to a filing. 

The decline in net losses is attributed to the fall of the total comprehensive loss by SR168 million, due to several factors including the decreasing general and administration and marketing costs and fall in depreciation.