Abu Dhabi – Mubasher: Eshraq Properties swung to losses in the fourth quarter of 2016, according to a bourse filing.
The real estate developer incurred losses of AED 569.63 million ($155.04 million) in Q4-16, against profits of AED 10.55 million ($2.84 million) in Q4-15.
Eshraq suffered losses of AED 575 million in 2016, against profits of AED 1.61 million in 2015.
Revenues rose 36.1% to AED 28.81 million in 2016, compared to AED 21.17 million in 2015.
