Press Releases

ARKAAN Real Estate financial results for the third quarter of 2024

Ramallah, 12/11/2024

ARKAAN Real Estate disclosed its financial results for the third quarter of 2024, with profit attributable to ARKAAN’s shareholders amounting to $7.4 million compared to $9 million for the same period in 2023, showing a decrease of about 18%.

Continued from the first half of year 2024, the decrease in ARKAAN's profits in the third quarter of year 2024 compared to the same period of year 2023 was as well due to the ongoing downturn in the Palestinian economy, which ARKAAN expects that its operational performance will continue to be affected by this downturn until the end of this year.

The Company's assets and liabilities decreased by %7.6 and %31.4, respectively, while the book value of the share amounted to about $2.85.

ARKAAN Real Estate, a publicly traded company, emerged from the Palestine Telecommunications Company/Jawwal, with a paid-in capital of $131.6 million and assets totaling over than $435 million. The Company holds a strategic real estate portfolio, allowing for the implementation of high-quality and large-scale real estate projects.