Riyadh — Mubasher: Jabal Omar Development Company reported a net profit of SAR 13.51 million in the first nine months (9M) of 2026, representing a 98.77% plunge from the SAR 1.10 billion in 9M-25, according to the income statements.
The company attributed the net income decline primarily to a significant reduction in exceptional gains, which had reached SAR 1.41 billion in the previous year following a land sale.
Revenue for the nine-month period rose by 15.95% to SAR 1.82 billion, driven by the improved performance of hotels and commercial centers and the opening of the Rotana Hotel earlier in 2026.
Total assets were reported at SAR 26.44 billion as of 30 September 2026, while total debt decreased by 3% to SAR 9.04 billion.
Adjusted EBITDA for the 9M-26 period reached SAR 923 million, a 25% increase year-on-year (YoY).
For the third quarter (Q3) of 2026, Jabal Omar shifted to a net loss of SAR 261.61 million from a net profit of SAR 197.85 million in Q3-25.
Quarterly revenue stood at SAR 370.03 million in July-September, marking a 14.24% increase over the prior-year period but a 48.26% decline from Q2-26, which included the Hajj season.
