{
  "id": 17036065,
  "title": "Riyadh Development Profit Falls 42% in Nine Months",
  "url": "https://urgent.news/2026/10/29/riyadh-development-profit-falls-42-in-nine-months",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T08:36:09.000Z",
  "source": {
    "name": "The Saudi Standard",
    "slug": "the-saudi-standard",
    "url": "https://saudistandard.com/2026/10/29/riyadh-development-profit-falls-42-percent-nine-months/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}