Al-Medina developer reports increased profits

Saudi Arabia's Taibah Investment & Real Estate Co. achieved SR99.2 million in profits for the first nine months of this year, compared with SR44.6 million for the same period last year. This is an increase of 122 percent, Arab News reported.

Taibah Investment & Real Estate Company was founded in 1988 to develop projects in and around Al-Medina, the second holiest city in the kingdom and site of the tomb of the Prophet Mohammad.