Dar Alarkan Real Estate Development Co. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported that net profit was SAR 37.3 million compared to SAR 48.7 million for the same quarter ended December 31, 2015. Operational profit was SAR 121.6 million, compared to SAR 136.5 million for the same quarter ended December 31, 2015. The decrease in net income is mainly due to the lower property sales revenue and higher operating expenses which partially offset by increase in lease revenue and lower finance charges. The total sales for the quarter were SAR 410.94 million and for the same quarter for the previous year was SAR 419.35 a decrease of 2.11%. For the year, the company reported that net profit was SAR 250.8 million, or SAR 0.23 per share, compared to SAR 359.2 million, or SAR 0.33 per share, for the year ended December 31, 2015. Operational profit was SAR 599.5 million compared to SAR 739.4 million for the year ended December 31, 2015. The decrease in net income is mainly due to the lower property sales revenue which partially offset by increase in lease revenue and lower operating and finance charges. The total sales /revenues realized amounted to SAR 1,870.3 million, compared to SAR 2,211.3 million for the previous year, a decrease of 15.4%.