Al-Aqaria quarterly profit reaches 103.3 million
The Saudi Real Estate Company announced that its net profit increased to 103.3 million riyals in the second quarter of 2026, reflecting a growth of 9.43% compared to the same period last year. This rise is attributed to lower general and administrative expenses and an increase in the group's share of profits from associate companies and joint ventures. Revenues amounted to 423 million riyals, down by 13.5% mainly due to a 64% decline in real estate sales. In the first half of 2026, the company's profits surged by 152%, reaching 579 million riyals, driven by exceptional gains from investment revaluations, despite a 33.5% decrease in total revenues. The company also signed strategic contracts, including leasing the Riff Complex valued at over 1.19 billion riyals and awarding the "Porta Jeddah" project worth 463 million riyals. Some of its projects have reached nearly 100% completion.
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