Al 'Alaqariya' Q2 profit hits 103.3M riyals

The Saudi Real Estate Company recorded a net profit of 103.3 million SAR in the second quarter of 2026, reflecting a 9.43% increase compared to the same period last year. This improvement is attributed to lower general and administrative expenses and an increased share of the group's profits from subsidiaries. Despite a 64% decline in real estate sales revenue due to the divestment from non-core lands, the company achieved a net profit of 579 million SAR for the first six months of the year, representing a 152% rise, driven by exceptional gains from asset revaluation. This occurred despite an overall revenue decrease of 33.5%. Additionally, the company finalized key contractual agreements, including leasing the Reef Complex valued at over 1.19 billion SAR, and awarding the "Porta Jeddah" project valued at 463 million SAR, with project completion rates increasing across its vital developments.

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