Riyadh – Mubasher: Dar Al Majed Real Estate Company (Al Majdiah) recorded net profits valued at SAR 80.33 million for the first half (H1) of 2026, representing a 62.15% decrease from SAR 212.22 million in the same period last year.
The company attributed the decline to a high base effect in 2025, which included SAR 314.50 million in revenue from land sales that did not recur during the current period.
Total revenue for the six-month period fell by 28.37% to SAR 496.45 million. Despite the overall decline, core operational segments showed growth, with residential unit sales rising by 33.30% to SAR 426.20 million and rental income surging by 159% to SAR 13 million.
Excluding the impact of land sales and fair value gains, the company stated that net profit would have increased by 46.30%.
For the second quarter (Q2) of 2026, net profit reached SAR 41.66 million, a 62.23% decrease year-on-year (YoY) but a 7.76% increase compared to Q1-26.
Quarterly revenue stood at SAR 288.24 million. Total shareholders' equity rose by 4.80% to SAR 1.16 billion, while earnings per share (EPS) adjusted to SAR 0.27 from SAR 0.71 a year earlier.
