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Saudi Dar Al Arkan Q4 profit up 9 pct, misses view DUBAI: Saudi Arabia real estate firm Dar Al Arkan posted an 8.9 percent increase in fourth-quarter net profit on Monday, missing analyst forecasts despite higher margins on property sales and lower costs.The company made a profit of 156.8 million riyals ($41.81 million) in the three months to Dec. 31, up from 144 million riyals in the prior-year period, according to a bourse filing.Analysts polled by Reuters on average forecast Dar Al Arkan would make a quarterly profit of 250.4 million riyals.Dar Al Arkan 2013's net profit was 681.5 million riyals. This compares with a profit of 988.5 million riyals in 2012.The firm blamed the drop in annual profit on lower property sales and a decline in non-operating income.Copyright Reuters, 2014 ...

China aims for target of six million public homes in 2014 BEIJING: China aims to start building at least 6 million units of public housing next year, state media said on Saturday, reinforcing a government effort to supply more low-cost homes to counter record property prices.But next year's target is lower than the 2013 objective, even though China built more public homes this year than it had planned, Xinhua said, citing the Ministry of Housing and Urban-Rural Development.The country began building 6.7 million units of public ...
Dubai DUBAI: Emaar Properties, Dubai's largest listed developer, has signed a $500 million loan to help finance a real estate project in Turkey, a statement from the company said on Wednesday.   The facility, which runs for seven years, was provided by a consortium of banks including Emirates NBD, HSBC and Standard Chartered.   The Turkish development, called Emaar Square, will host residential and commercial real estate as well as Turkey's largest shopping mall, the statement added.   Copyright Reuters, 2012** ...
China property market revives despite controls  SHANGHAI: After waiting for a year, accountant Qi Youdi bought a new home in the eastern Chinese city of Hangzhou, among the millions of buyers bringing life back to the country's moribund property market.   For the past two years, China has sought to control residential property prices with measures including restrictions on second and third home purchases, higher minimum down payments, and annual taxes in some cities on multiple and non-locally-owned homes.   The moves, announced in the ...
China says more cities record home price rises  SHANGHAI: The cost of new homes increased in more Chinese cities in November than in the previous month, official figures showed Tuesday, despite efforts from the government to keep the market in check.   Prices in 53 out of 70 cities tracked by the government rose month-on-month, the National Bureau of Statistics said in a statement, up from 35 cities in October and 31 cities in September.   Prices of new homes dropped in 10 cities and stayed unchanged ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln