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Aljada Al Awwal Real Estate Development Company revealed the latest developments in its business and managed projects for the third quarter of 2026, explaining strategic developments that included raising the company’s capital to 300 million riyals, and the growth of the portfolio of projects under management to exceed 6 billion riyals.
This disclosure comes within the framework of the company’s policy to enhance transparency and inform shareholders about the financial and operational performance, coinciding with the achievement of a net profit of SAR 10.6 million during the first half of this year.
This latest increase of 46.3% was achieved through the capitalization of the issuance premium, which resulted in the granting of free shares to shareholders of 9 shares per 20 shares owned, which aims to strengthen the capital base of the company, and expand its business.
On the financial front, the financial statements for the first half of 2026 showed a total revenue of 80 million riyals, supported by a strong growth in development sales of 146% to reach 49.3 million riyals, according to Mubasher.
The company achieved a half-revenue of 80 million riyals and a net profit of 10.6 million riyals
In the same context, the company recorded a decline in contracting revenues by 75%, while rental revenues stabilized at 4 million riyals, which reflects a shift in the company’s focus towards maximizing revenues from the sales of upgraded units, and the value of total assets amounted to 1,738 million riyals, while the equity stabilized at 686 million riyals at the end of the period.
With regard to the real estate portfolio, the company manages a variety of quality projects in the regions of Riyadh, Al-Kharj, Mecca and Jeddah, and the most prominent projects underway include the "Jada Al-Basateen" project, which reached a completion rate of 78%, and the "Jadat Al-Diriyah" project, which is nearing completion with a completion rate of 99%, in addition to the "Jada Al-Hada" project by 60%, and this portfolio ranges from income-generating projects, such as "Jada Al-Asra" in Kairouan, "Sharafa Al-Majdiya", and projects dedicated to development and direct sale.
The company has carried out strategic exits, as part of its strategy to reprioritize the investment portfolio, most notably the sale of its entire 38.6% stake in the La Pearl Real Estate Fund worth 131 million riyals to OJ Real Estate Development and Investment Company.
In the context of the expansion, the company has entered into new alliances to develop the Eastern Hindawia project in Mecca, and signed a memorandum of understanding to establish the first real estate fund specialized in the educational sector, indicating the company’s orientation towards diversifying its investment sectors.
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