Dar Al Majed Profit Drops 63% in Nine-Month Period
Riyadh, Saudi Arabia — Dar Al Majed Real Estate Co. reported net profit attributable to shareholders of 90.9 million SAR for the nine months ending September 30, 2026 — a sharp 63.5% decline from 249.1 million SAR in the same period a year earlier. Revenue fell 24% to 691.7 million SAR, and earnings per share […] The post Dar Al Majed Profit Drops 63% in Nine-Month Period appeared first on The…
Saudi real estate firm Dar Al Majed reported a 63% drop in profit over the nine months ending September 30, 2026, compared to the same period a year earlier. The company's net profit attributable to shareholders fell to 90.9 million SAR from 249.1 million SAR, while revenue declined by 24% to 691.7 million SAR. Earnings per share also decreased significantly, from 0.83 SAR to 0.30 SAR.
The primary reason for this decline was the absence of one-off items that boosted last year's results, such as land sale profits of 106 million SAR and investment property revaluation gains of 47 million SAR. Without these gains, the company's recurring earnings power is much weaker. The third quarter of 2026 saw even more dramatic declines, with net profit dropping 71.2% to 10.6 million SAR and revenue falling 10% to 195.2 million SAR.
This suggests that the company is facing structural challenges in maintaining profitability without relying on windfall gains.
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.
