Riyadh — Mubasher: View United Real Estate Development Company announced a net loss of SAR 3.61 million in the first half (H1) of 2026, swinging from a net profit of SAR 9.97 million in H1-25.
The company’s loss per share stood at SAR 0.06 in H1-26, compared to earnings per share (EPS) of SAR 0.15 in the prior-year period, according to a bourse filing.
Revenue dropped by 81.25% to SAR 11.67 million in H1-26 from SAR 62.25 million in H1-25.
View United Real Estate attributed the sharp decline to lower income from off-plan project sales, citing regional geopolitical events and changing market variables.
The company also recorded decreased revenue from land sales, sales commissions, and third-party development contracts.
Profitability was further pressured by a rise in Zakat expenses, which reached SAR 2.12 million in H1-26 compared to SAR 1.01 million a year earlier.
These factors outweighed a reduction in general and administrative expenses and lower expected credit loss provisions.
Total shareholders’ equity increased by 10.57% to SAR 85.50 million.
The company noted that its weighted average number of shares increased to 66 million following a one-for-one bonus share issue, up from 33 million shares in the previous year.
