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Source: مباشر
1 Dayمباشر
Source: مباشر
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Arabian Centers Company (Sino Mall Centers) announced an 18.44% decline in its profits in the second quarter of 2026, with earnings totaling 385.7 million SAR compared to 472.9 million SAR in the same period last year. This decrease was due to rising financing costs and a decline in the value of investment properties. Nonetheless, the company recorded a 2% growth in operating profit during the first half of the year, with revenues reaching 1.15 billion SAR—slightly down by 1.8%—and occupancy rates increased to 91.2%. The analysis also indicated that net profit was primarily affected by a 40.7% rise in financing costs. Meanwhile, the company's projects, such as "Westfield Jeddah" and "Westfield Riyadh," showed progress in their operational phases, with leasing rates reaching 94% and 96%, respectively.
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