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الاقتصادية
Al-Majdiyah Saudi profits fall 62% in Q2
Al Majd Real Estate ("Al Majdiyah") Saudi profits decreased by 62% in the second quarter of the year, due to recorded land sale profits of 72 million riyals during the same period last year. Despite an 81.1% increase in revenue from property unit sales and a 224.8% rise in rental income, total revenues declined by 32.1% on an annual basis. After excluding land sale profits and gains from real estate investment revaluations, the net profit for the first half of the year increased by 46.3%, driven by higher profits from unit sales and rental activities, along with a decrease in general, administrative, and marketing expenses.
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