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Basas Meken's profits fall 29.65% despite revenue growth
Asas Makin Real Estate Development and Investment Company's results for the first half of 2026 showed a decline in profits of 29.65%, with net profit decreasing from 57.98 million riyals to 40.79 million riyals. This decline was caused by narrower profit margins from real estate sales and higher financing costs. On the other hand, revenues increased by 59.03%, reaching 213.28 million riyals, driven by a 226% rise in revenues from contracting and third-party development sectors, and a 178% increase in rental income.
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