Saudi Real Estate Company (“Al Akaria”) announces its Interim Financial results for the Period Ending on 2026-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 367.3 | 409.7 | -10.349 | 423 | -13.167 |
| Gross Profit (Loss) | 155.2 | 171.2 | -9.345 | 203.9 | -23.884 |
| Operational Profit (Loss) | 104.7 | 109.4 | -4.296 | 165.6 | -36.775 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 30.9 | 38.9 | -20.565 | 103.3 | -70.087 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 104 | 28.8 | 261.111 | 113.6 | -8.45 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,110.1 | 1,526.8 | -27.292 |
| Gross Profit (Loss) | 518.4 | 718.9 | -27.889 |
| Operational Profit (Loss) | 224.2 | 526.1 | -57.384 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 609.9 | 268.5 | 127.15 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 696.2 | 325.1 | 114.149 |
| Total Shareholders Equity (after Deducting Minority Equity) | 5,994.5 | 5,282.9 | 13.469 |
| Profit (Loss) per Share | 1.63 | 0.72 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue decreased by 10%, equivalent to SAR 42 million, during the current quarter compared to the corresponding quarter of the previous year, mainly due to a decrease in revenue from property sales, equivalent to SAR 71 million. This was offset by an increase of SAR 15 million in revenue from infrastructure projects and SAR 13 million in revenue from construction projects. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit attributable to shareholders of the parent company decreased by 20%, equivalent to SAR 8 million, during the current quarter compared to the corresponding quarter of the previous year, mainly due to a decrease in gross profit, equivalent to SAR 16 million, and decrease in the Group's share of profit of associates and a joint venture, equivalent to SAR 11 million. This was offset by a decrease in general and administrative expenses, equivalent to SAR 12 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue decreased by 13%, equivalent to SAR 56 million, during the current quarter compared to the previous quarter, mainly due to a decrease in property sales and rental revenue of SAR 61 million. This was offset by an increase in revenue from construction projects equivalent to SAR 7 million and infrastructure projects equivalent to SAR 4 million |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net profit of SAR 72 million was mainly attributable to a decrease in gross profit of SAR 49 million and a decrease in the Group’s share of profits of associates and a joint venture of SAR 16 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue decreased by 27%, equivalent to SAR 417 million, during the current period compared to the corresponding period of the previous year, mainly due to decreases in revenue from property sales and infrastructure projects of SAR 454 million and SAR 17 million, respectively This was offset by increases in revenue from construction projects, facilities management services, and rental of SAR 23 million, SAR 16 million, and SAR 15 million, respectively |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit attributable to shareholders of the parent company increased by SAR 341 million during the current period compared to the corresponding period of the previous year, mainly due to the following: Recognition of a SAR 640 million gain on remeasurement of the retained investment in Riyadh Holding Company upon loss of significant influence and Finance charges decreased equivalent to SAR 19 million. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Emphasis of Matters First Matter: We draw attention to Note (5.A) to the interim condensed consolidated financial statements for the period ended 30 September 2026. As stated therein, certain land parcels owned by the Group are currently not available for use or development due to various reasons, some of which relate to the circumstances of the areas in which these lands are located, while others are under review by specialized committees. Management is currently communicating with the relevant government agencies and committees to address these matters and enable the use and disposal of these lands. The impact of these matters on the recoverable amount of these lands remains uncertain and depends on the outcome of the studies conducted by the relevant committees. The carrying amount of these lands amounted to SAR 339 million as at 30 September 2026 (31 December 2025: SAR 438 million). Second Matter: We draw attention to Note (5.B) to the interim condensed consolidated financial statements for the period ended 30 September 2026. As stated therein, management was informed by the relevant government agencies that one of the Group's land parcels, designated for the Al Widyan project, is located within an area currently under study by government agencies for development. This may result in a material change to the original project's master plan and the land's recoverable value. The impact of this matter remains uncertain and depends on the completion of the studies by the government agencies and future developments in the area. The carrying amount of the land and capital work-in-progress related to the project amounted to SAR 2.9 billion as at 30 September 2026 (31 December 2025: SAR 2.9 billion). Our conclusion is not modified in respect of the matters described in the Emphasis of Matters paragraphs above. |
| Reclassification of Comparison Items | Certain of the prior period amounts have been reclassified to conform to the presentation in the current period. |
| Additional Information | - |
| Attached Documents |  |
