Latest news with #SaudiRealEstateCompany
Zawya
5 days ago
- Business
- Zawya
Saudi: Al Akaria turns profitable in H1-25; sales cross 293mln
Riyadh – Saudi Real Estate Company (Al Akaria) shifted to net profits valued at SAR 229.60 million in the first half (H1) of 2025, against net losses of SAR 11.30 million in H1-24. The Tadawul-listed company posted a 37.93% year-on-year (YoY) hike in revenue to SAR 1.11 billion at the end of June 2025, compared to SAR 809.90 million, according to the financial statements. Earnings per share (EPS) reached SAR 0.61 in the first six months (6M) of 2025, versus a loss per share of SAR 0.03 in H1-24. Results of Q2-25 In the second quarter (Q2) of 2025, Al Akaria turned profitable at SAR 94.40 million, compared to net losses standing at SAR 14.20 million in Q2-24. The sales hit SAR 489 million in Q2-25, an annual growth of 27.91% from SAR 382.30 million. Quarter-on-quarter (QoQ), the Q2-25 net profits dropped by 30.17% from SAR 135.20 million in January-March 2025, while the revenues declined by 22.41% from SAR 628.10 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
19-03-2025
- Business
- Zawya
Saudi: Al Akaria sees 218% higher profits in 2024
Saudi Real Estate Company (Al Akaria) registered 218.19% year-on-year (YoY) higher net profits at SAR 215.10 million during 2024, compared to SAR 67.60 million. The revenues reached SAR 1.98 billion last year, up 9.56% from SAR 1.81 billion at the end of December 2023, according to the financial results. Additionally, the earnings per share (EPS) climbed to SAR 0.57 in 2024 from SAR 0.18 in 2023. In the first nine months (9M) of 2024, Al Akaria shifted to net profits of SAR 26.90 million, compared to net losses valued at SAR 89.30 million in 9M-23. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
19-03-2025
- Business
- Zawya
Al Akaria set to appoint contractors for new projects in Riyadh, Jeddah
Saudi Real Estate Company (Al Akaria) is in the final stages of design and contractor appointments for several new projects in Riyadh and Jeddah, the company said in its 2024 financial statement on Wednesday. These include Al-Narjis Office project in Riyadh and the Porta Jeddah mixed-use development in Jeddah, acting CEO Khalid Alsehaibany said. The Fai Sedra-1 project, comprising 138 residential units, is expected to be completed in the first quarter of 2026, the senior executive said. Additionally, the company is currently in the process of appointing the main contractor for the Fai Sedra-2 project, which includes 310 residential units with expected completion by the end of 2027. Significant progress has been achieved in the Al-Reef Residential Community project in the Diplomatic Quarter, which spans 39,000 sq m. The scheduled completion and operation is expected in 2026. Work is also underway on the 22,000-sqm Tilal Commercial Centre in Al Malqa district in Riyadh. The expected completion is next year, Alsehaibany said. (Editing by Anoop Menon) (
