Al Akaria profit soars to SAR 609.9M in 9M 2026; Q3 at SAR 30.9M

Résumé détaillé

Saudi Real Estate Co. (Al Akaria) net profit jumped to SAR 609.9 million in the first nine months of 2026, from SAR 268.5 million in the year-earlier period.

Saudi Real Estate Co. (Al Akaria) net profit jumped to SAR 609.9 million in the first nine months of 2026, from SAR 268.5 million in the year-earlier period.

Revenue from construction projects, facilities management services, and leasing increased by SAR 23 million, SAR 16 million, and SAR 15 million, respectively, while total revenue declined 27% year-on-year (YoY), or SAR 417 million, due to lower real estate sales and infrastructure project revenue.

Profit also benefited from a SAR 640 million gain on remeasurement of the investment in Riyadh Holding Co. following the loss of significant influence, and a SAR 19 million reduction in finance costs.

In Q3 2026, Al Akaria’s earnings fell 20.6% to SAR 30.9 million, compared to SAR 38.9 million in the third quarter of 2025, as revenue declined 10% YoY, or SAR 42 million.

The decline was also driven by a SAR 16 million decrease in gross profit and an SAR 11 million reduction in the group's share of profits from associates and a joint venture.

On a sequential basis, net earnings plunged 70.1% from SAR 103.3 million in Q2 2026.

Shareholders’ equity, after minority interest, reached SAR 5.99 billion as of Sept. 30, 2026, up from SAR 5.28 billion a year earlier.

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