Riyadh — Mubasher: Al Ramz Real Estate Company logged net profits valued at SAR 54.31 million in the first half (H1) of 2026, an annual drop of 24.05% from SAR 71.50 million.
Earnings per share (EPS) fell to SAR 1.27 in H1-26 from SAR 2.38 in H1-25, according to the financial results.
The decline in bottom-line performance occurred despite a 308.62% surge in revenues, which reached SAR 910.66 million compared to SAR 222.86 million a year earlier.
The company attributed the profit compression to a 51.2% increase in finance costs and a rise in Zakat provisions, which grew to SAR 6.60 million from SAR 2.50 million. Additionally, the company noted lower semi-annual fair value gains compared to the previous year.
For the second quarter (Q2) of 2026, net profit reached SAR 25.61 million, a 60.59% drop from SAR 64.98 million in Q2-25.
Quarterly revenue, however, climbed by 518.17% to SAR 550.36 million, driven by off-plan sales and the delivery of completed units.
Total shareholders' equity stood at SAR 1.84 billion as of 30 June 2026, up 126.21% from SAR 812 million the previous year.
Last month, the company signed an agreement with SNB Capital to establish a Sharia-compliant real estate investment fund with a target size exceeding SAR 3.60 billion.
