Makkah Construction Nine-Month Profit Rises 9.5%
Makkah, Saudi Arabia — Makkah Construction and Development Co. reported net profit of 415.6 million SAR for the nine months ending 30 September 2026, up 9.5% from 379.7 million SAR in the same period a year earlier. Revenue climbed 21.6% to 1,103.7 million SAR, driven by strong Hajj and retail growth. The results reflect a […] The post Makkah Construction Nine-Month Profit Rises 9.5% appeared…
Makkah Construction and Development Co reported a 9.5% increase in net profit to 415.6 million SAR over the nine months ending September 30, 2026, compared to 379.7 million SAR in the same period last year. Revenue rose 21.6% to 1,103.7 million SAR, bolstered by strong performance in Hajj and retail sectors. However, the third quarter showed weaker results with revenue down 46.7% to 151.4 million SAR and net profit falling 5.4% to 80.8 million SAR.
The decline in Q3 was primarily due to Hajj season occurring entirely in the second quarter, while part of it had occurred in Q3 of the previous year. Comprehensive income, on the other hand, increased impressively by 806.6% year-on-year to 261.1 million SAR in Q3, and the nine-month period saw an 80.5% rise to 621.9 million SAR.
Key drivers behind the growth include a 142 million SAR contribution from Hajj revenue and 48 million SAR from retail revenue. Hospitality revenue, which grew by 6 million SAR, was supported by higher average daily rates despite some rooms being offline for renovation. Retail segment profit improved by 52 million SAR year-on-year due to higher lease rates and expanded leased area.
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.
