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Dar Al Majid Real Estate Company, listed on the Saudi market, revealed its preliminary financial results for the third quarter of 2026, where its net profit decreased by 71.16% year-on-year, and the net profit attributable to the company’s shareholders decreased to SAR 10.62 million, compared to SAR 36.84 million in the same quarter of 2025, and decreased by 74.5% compared to the previous quarter, in which the company recorded a net profit of SAR 41.66 million, according to the company’s data on Tadawul on Tuesday.
The company reported that the decrease in net profit on an annual basis is mainly due to the decline in the profit margins of the sale of real estate units; as a result of the increase in promotional sales discounts to stimulate sales, and the company’s revenues decreased by 10.04% during the third quarter of this year; to reach 195.23 million riyals, compared to 217.03 million riyals in the same quarter of the previous year; as a result of the decline in sales of real estate units by 14%, in addition to the decline in commission revenues by 7.2 million riyals, offset by the increase in real estate development revenues by 130% and rental revenues by 37%.
On the other hand, the total profit decreased by 45.32% to SAR 43.13 million, compared to SAR 78.87 million in the same quarter of the previous year, while the operating profit decreased by 70.51% to SAR 14.71 million, compared to SAR 49.86 million. On a quarterly basis, the company’s revenues decreased by 32.27% compared to SAR 288.24 million in the second quarter of 2026, due to the decline in sales of real estate units by SAR 97 million, and the decrease in real estate commission revenues by SAR 9.5 million.
The company’s revenues fell by 10.04% during the third quarter of 2026 to reach SAR 195.23 million
Net profit decreased by 74.5% compared to the previous quarter, a decrease of SAR 31 million, mainly due to a decrease in total revenues by 32%, and at the level of the first nine months of 2026, Dar Al Majid Real Estate’s net profit decreased by 63.48% year-on-year to reach SAR 90.95 million, compared to SAR 249.06 million during the same period in 2025.
The company’s revenues decreased by 24% to SAR 691.68 million, compared to SAR 910.08 million, during the comparative period, mainly because the results of the same period of the previous year included land sales revenues of SAR 314.5 million.
It is noteworthy that the company achieved an operating growth in the development revenues of others by 93%, in addition to the growth of leasing revenues by 97% during the current period, and the total profit decreased by 47.85% to 184.13 million riyals, compared to 353.08 million riyals during the first nine months of 2025, while the operating profit decreased by 54.77%; to reach 129.27 million riyals, compared to 285.8 million riyals during the same period of the previous year.
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