Announcement of Dar Al Majed Real Estate Company Interim Financial Results for the Period Ended 31-03-2026 (Three Months)

04/05/2026 Tadawul

 

Element List Current Period

Similar period for previous

year

 %Change
Total Shareholders Equity (after Deducting Minority Equity) 1,124,164,144 993,805,943 13.117
Profit (Loss) per Share 0.13 0.34
All figures are in (Actual) Saudi Arabia, Riyals

 

Element List Amount Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value 6,822,099 2.27
All figures are in (Actual) 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 Total revenue decreased by 22.4% during the current quarter to reach SAR 208.2 million, compared with SAR 268.4 million in the same quarter of the previous year. This was due to several key factors, most notably:

 

• The existence of certain challenges in the real estate market during the current period.

• Absence of land sales during the current period until the real estate market stabilizes, unlike the first quarter of the previous year.

• Revenue recognition from off-plan sales based on percentage of completion.
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 during the current quarter amounted to SAR 38.7 million, recording a decrease of 62.1% compared with the same quarter of the previous year. This was mainly due to the decline in operating profit as a result of recognizing non-recurring gains from the revaluation of investment properties during Q1 2025 amounting to SAR 55.9 million.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is Total revenue decreased by 33.6% during the current quarter to reach SAR 208.2 million, compared with SAR 313.7 million in the previous quarter. This decrease was mainly due to the decline in revenue from sales of real estate units, as a result of current challenges in the real estate market during the current period.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The Company achieved a net profit of SAR 38.7 million during the current quarter, an increase of SAR 25.8 million compared to the previous quarter. This increase was mainly attributable to the following:

 

• Higher profits from real estate development and commission compared with the previous quarter.

• Lower general and administrative expenses compared with the previous quarter.
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) N/A
Reclassification of Comparison Items Certain comparative figures for the previous period have been reclassified to conform with the current period. These reclassifications have no impact on net profit, retained earnings, or the condensed consolidated financial position.
Additional Information -
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