Riyadh Development Profit Falls 42% in Nine Months
Riyadh, Saudi Arabia — Riyadh Development Company posted a net profit of 146.5 million SAR for the nine months ending September 30, 2026 — down 41.7% from 251.5 million SAR in the same period a year earlier. The decline was broad-based, driven by lower land sales, reduced associate company profits, and a series of one-time […] The post Riyadh Development Profit Falls 42% in Nine Months appeared…
Riyadh Development Company reported a 42% drop in profit over the nine months to September 30, 2026, compared to the same period a year earlier. The decline was driven by lower land sales, reduced profits from associate companies, and significant one-time charges. Revenue fell 17.7% to 255.4 million SAR, while gross profit decreased 21.5% to 174 million SAR.
Operating profit plunged 60.8% to 67.2 million SAR. Total shareholders' equity rose 12.1% to 4,575 million SAR. In Q3, revenue dropped 53.8% to 77.6 million SAR, but net profit fell 73.8% to 37.7 million SAR.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
