Riyadh – Mubasher: Banan Real Estate Company recorded net profits worth SAR 21.25 million in the first half (H1) of 2026, marking a 16.96% increase from SAR 18.17 million during H1-25.
The company attributed the growth to a 3.78% rise in rental revenues across its portfolio and its subsidiary, Al Aziza Investment and Real Estate Development Company, alongside improved occupancy rates.
Total revenue for H1-26 rose to SAR 37.09 million from SAR 35.74 million. Earnings per share (EPS) improved to SAR 0.11 from SAR 0.09.
For the second quarter (Q2) that ended on 30 June 2026, net profit reached SAR 8.83 million, up 8.14% from SAR 8.17 million in the prior-year quarter.
Financial performance was bolstered by a SAR 2.27 million reduction in financing costs, a 64% decrease, and the reversal of SAR 973,000 in credit loss provisions.
However, quarterly net profit fell by 28.83% compared to Q1-26, primarily due to a SAR 1.60 million gain from property disposals recorded in the previous period that did not recur.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 433.50 million as of 30 June 2026.
The listed company recently launched its new subsidiary, Emaar Al Waseel Al Mutamayiza, with an issued capital of SAR 44.08 million.
