Press Releases

ARKAAN Real Estate financial results for the first half of 2024

Ramallah, 13/08/2024

ARKAAN Real Estate disclosed its financial results for the first half of 2024, with profit attributable to ARKAAN’s shareholders showing a decrease of about 5% from $9.2 million compared to $9.7 million for the same period in 2023.

The decrease in ARKAAN's profits was 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 %1 and %4, respectively, while the book value of the share amounted to about $3.

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 approximately $500 million. The Company holds a strategic real estate portfolio in the West Bank and Gaza Strip, allowing for the implementation of high-quality and large-scale real estate projects