Cenomi Centers earns SAR 1.19B in 9M 2025, SAR 502M in Q3 on exceptional gains

Arabian Centres Co. (Cenomi Centers) reported a net profit of SAR 1.19 billion after minority interest for the first nine months of 2025, compared with SAR 866 million in the same period of 2024. Profit before minority interest reached SAR 1.20 billion, up from SAR 867.6 million a year earlier.

The company said the profit increase was driven by a mix of operational and non-operational factors. Revenues reached SAR 1.72 billion in the first nine months of 2025, versus SAR 1.76 billion in the prior-year period.

Excluding the Mall of Dhahran—the first phase of which was handed over in early February 2025—revenues grew 5.5% year-on-year, supported by strong leasing performance and higher visitor traffic across the portfolio.

Cost of revenues fell to SAR 271.6 million in the nine-month period, down from SAR 300.4 million a year earlier. Other operating income rose to SAR 289.4 million.

Net fair value gains on investment properties increased to SAR 505 million, compared with SAR 429.9 million a year earlier, while impairment losses on receivables declined 8.5% to SAR 234.5 million. Net finance costs dropped to SAR 489.1 million from SAR 529.9 million in the same nine-month period of 2024.

These improvements came despite a 28.6% increase in advertising and promotional expenses to SAR 20.9 million. General and administrative expenses rose 29.1% to SAR 245.7 million on higher professional fees and fund management costs. Other operating expenses increased to SAR 22 million in the nine-month period, compared with SAR 0.1 million a year earlier.

Cenomi Centers’ third-quarter net profit stood at SAR 502.43 million, up 50.1% from SAR 334.65 million in Q3 2024. On a sequential basis, net profit grew 6.2% from SAR 472.9 million in Q2 2025.

Shareholders’ equity, after minority interest, reached SAR 15.4 billion by Sept. 30, 2025, compared to SAR 14.6 billion a year earlier.

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