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Al-Jada Al-Oula Profits Fall in First Half 2026
First Al-Jada Development Company’s profits declined by 86.4% in the first half of 2026, recording a net profit of 10.64 million riyals compared to 78.13 million riyals in the same period last year. This decrease was due to the absence of exceptional income from a non-recurring deal worth 57 million riyals, and a drop in contracting sector revenues from 90.6 million riyals to 22.6 million riyals. Despite this, the company saw a 146% increase in real estate sales revenues to reach 49.3 million riyals, and a 29.1% rise in rental income. Equity also grew by 13%, with total assets exceeding 1.73 billion riyals, focusing on strengthening cash flows and developing recurring income.
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