Oct. 19 (Bloomberg) -- Dar Al Arkan Real Estate Development Co., a Saudi Arabian property company, said thrid-quarter profit dropped 21 percent on lower land sales.
Net income fell to 227.5 million riyals from 289.6 million riyals, the company said in a statement to the Saudi bourse today. The profit fell on “lower land sales as the company sought to enhance gross margins and lower residential sales due to lower available completed units,” it said.
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