Alandalus Property records healthy footfall rates in Q1 2021, to proceed with future projects: CEO

Hathal Al-Otaibi, CEO of Alandalus Property

Alandalus Property reported healthy footfall rates at all malls, despite the negative impact of the COVID-19 pandemic, which helped it report robust performance during the first quarter of the year, chief executive officer (CEO) Hathal Al-Otaibi said in a statement on the firm’s Q1 2021 financial results.

“The company is working on completing future projects on a timely fashion. This demonstrates the strength and solidity of the company's financial position, which will help fulfill its obligations,” Al-Otaibi added.

He also affirmed the continuity of the company's strategic approach to maintaining its tenant mix and progressing steadily towards achieving its future targets.

Alandalus posted a  net profit after Zakat and tax of SAR 19 million in Q1 2021, up 55% from SAR 12.2 million in the same period last year, Argaam reported.