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Al-Ramz Saudi Real Estate Q2 Profit Down 60.6%
The net profit of "Al Ramz," a Saudi company, declined by more than 60% in the second quarter of 2026, reaching 25.6 million SAR compared to approximately 56 million SAR in the same period last year. This decrease is attributed to lower gains from fair value adjustments and a rise in Zakat provisions by 6.6 million SAR, in addition to a 51.2% increase in financing costs. In the first half of the year, the company achieved a profit of 54.3 million SAR, down 24.1% from the same period in the previous year, when profits were 71.5 million SAR. The main reasons for the decline focus on reduced fair value gains, increased financing costs, and higher Zakat provisions.
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