Residences Dar Saada company has unveiled its results for the first half of 2016, marked in 2016 by the continued growth of the company. Indeed, these show a 30% increase of its turnover and 9% in net income; reaching 168 million dirhams. According to the management of Dar Saada Residences, this result is consistent with expectations communicated earlier this year by the company.
Moreover, given the achievements of the first half of 2016, Residences Dar Saada plans to continue the development of the company during the remaining part of 2016.
Given that the social housing demand remains strong due to the demographic and urbanization effect of the Kingdom, Dar Saada has pre-sold 2086 units in to mid-year; 42% of the total target for the year. Over 83% of these units relate to social housing.
Moreover, the company achieved during the first half of 2016 a turnover of 878 million dirhams an improvement of 30% compared to revenues for the first half 2015. Net income also grew by 9%,168 million dirhams ,compared to the first half of 2015. This turnover is constituted by 87% of social housing units,3% of estates units. The remaining 10% are shared among the medium-luxury units, economic villas and shops.
According to the Residences Dar Saada company, the company debt remains under control, with net debt of 2.4 billion dirhams. Compared to equity, net debt shows a debt ratio at only 39%.
