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Al-Riyadh Development Q2 profit drops to 58.38M
Riyadh Development Company's profits declined by 11.05% year-over-year in the second quarter of 2026, amounting to 58.38 million SAR compared to 65.63 million SAR in the previous year, due to a provision of 20 million SAR set aside to settle a legal claim related to a leasing agreement. Despite this, the company's revenues increased by 1.36% to 73.88 million SAR. For the first half of the year, net profit rose by 1.08% to 108.86 million SAR, with revenues growing by 24.82% thanks to sales of non-strategic lands and higher activity in the company's core operations. Additionally, shareholders' equity increased by 4.5% to reach 4.18 billion SAR by the end of the first half.
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