For inquiries
Riyadh, Saudi Arabia
Al Andalus Real Estate Company announced its preliminary financial results for the third quarter of 2026, where its net profit increased significantly compared to the same quarter of the previous year, and the net profit attributable to the company’s shareholders increased to 14.92 million riyals, compared to 580 thousand riyals in the same quarter of 2025, and increased by 41.56% compared to the previous quarter, according to the company’s data on “Tadawul” on Tuesday.
The company stressed that the improvement in net profit on an annual basis is mainly due to the increase in operating profit by 88%, supported by the growth of revenues and total profit, in addition to the improvement of the results of the companies invested in the equity method, especially West Jeddah Hospital Company, after the improvement of results and the achievement of Dr. Sulaiman Al-Habib Hospital (Al-Faihaa) operating profits during the current quarter, as well as the decrease in the allocation of credit losses and financing costs, and the company’s revenues increased by 18.61% during the third quarter of this year; to reach 71.57 million riyals, compared to 60.34 million riyals in the same quarter of the previous year; as a result of the growth of revenues of all operating sectors.
The company pointed out that the revenues of the retail and operating sector increased by about 7%, supported by improved operational performance and high occupancy rates in Andalus Mall, and the revenues of the office sector increased by about 33% as a result of the increase in revenues of the Cubecke Plaza building and the improvement of the occupancy of the Salama Tower, and the revenues of the hospitality sector grew by about 110%, after the completion of renovations and improvements, and the increase in occupancy rates at the DoubleTree Hilton Al Andalus Mall.
The improvement in net profit on an annual basis is due to an 88% increase in operating profit supported by revenue growth
In the same context, the total profit rose by 25.46% to SAR 46.08 million, compared to SAR 36.73 million in the same quarter of the previous year, while the operating profit increased by 88.08% to reach SAR 36.28 million, compared to SAR 19.29 million, and on a quarterly basis, the company’s revenues increased by 2.36% compared to SAR 69.92 million in the second quarter of 2026, mainly due to the improvement in the revenues of all operating sectors, where the revenues of the hospitality sector increased by 5%, while the revenues of the office, retail and operating sectors grew by about 2% each.
On the other hand, net profit increased by 41.56% compared to the previous quarter, supported by an increase in operating profit by 17.2%, as a result of the Group’s increase in the Group’s share in the results of companies invested in it in the equity manner, to reach 12.3 million riyals during the current quarter, compared to 5.92 million riyals in the previous quarter, despite the stability of the total profit and the increase in Zakat expenses.
In the first nine months of 2026, Al Andalus Real Estate Company turned to profitability, achieving a net profit attributable to the company’s shareholders of SAR 27.23 million, compared to a net loss of SAR 10.39 million during the same period in 2025, and the company’s revenues increased by 24.41% to SAR 212.36 million, compared to SAR 170.69 million during the comparative period, supported by the growth of revenues of all operating sectors.
For more Information contact: www.dxrprop.ae
Call/WhatsApp: +971501090635
Email: alnashra2013@gmail.com
– To write a special article about the name of your organization or company, you can write to the following email: