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Al Majidiyah's Q2 2026 profits fall 62.2%
Dar Al Majjid Real Estate Company experienced a 62.2% decline in its profits in the second quarter of 2026, with net profit amounting to 41.66 million riyals compared to 110.31 million riyals in the same period of the previous year. The company attributed this decline to the recorded land sales profits last year, but excluding those gains, its profits increased by 8.8%, supported by higher revenues from the sale of real estate units and rentals. For the first half of the year, profits declined by 62.15%, with a 28.37% decrease in revenues, although revenues from unit sales and rentals increased when excluding land revenues. Overall, the company's operational performance reflects an improvement in profitability during the last quarter, despite the overall results for the first half of the year showing a decline.
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