Riyadh - Mubasher: Saudi Real Estate Company (Al Akaria) reported a net profit of SAR 579 million for the first half (H1) of 2026, an annual leap of 152.18% from SAR 229.60 million.
The surge in profitability was primarily attributed to a SAR 640 million gain from the remeasurement of its investment in Riyadh Holding Company.
The bottom-line growth occurred despite a 33.51% decline in first-half revenue, which fell to SAR 742.80 million from SAR 1.12 billion a year earlier. The company attributed this drop to the disposal of non-core land assets during the previous year.
Operating profit for the six-month period also decreased by 71.35% to SAR 119.40 million.
For the second quarter (Q2) of 2026, net profit reached SAR 103.30 million, a 9.43% increase compared to SAR 94.40 million in Q2-25.
Quarterly revenue stood at SAR 423 million, down 13.50% year-on-year (YoY). Total shareholders' equity grew by 11.66% to SAR 5.89 billion. Earnings per share (EPS) jumped to SAR 1.54 in H1-26 from SAR 0.61 in the prior-year period.
At the end of March 2026, Al Akaria posted 251.84% YoY higher net profits attributable to the shareholders at SAR 475.70 million.
