3 Days
Source:
مباشر
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Al Akaria Q3 profit dips
The Saudi Real Estate Company’s third-quarter 2026 profit fell 20.6% year on year to SAR 30.9 million, and dropped 70.1% from the previous quarter, when it recorded SAR 103.3 million. The company attributed the annual decline mainly to a roughly SAR 16 million decrease in gross profit and an approximately SAR 11 million fall in its share of profits from associates and a joint venture, despite a SAR 12 million reduction in general and administrative expenses. Revenue also declined 10.35% to SAR 367.3 million, as property sales revenue fell by around SAR 71 million. In the first nine months of the year, net profit rose 127.15% to SAR 609.9 million, supported by a SAR 640 million gain from the remeasurement of an investment, despite a 27.29% drop in revenue.
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