Financial Results : Asas Makeen profit reaches SAR 129.9M in 2025, SAR 111.7M in H2

Asas Makeen profit reaches SAR 129.9M in 2025, SAR 111.7M in H2

30/03/2026 Argaam Exclusive

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Asas Makeen Real Estate Development and Investment Co. reported a net profit of SAR 129.9 million in 2025, compared to SAR 111.3 million a year ago.



Financials (M)

Item 2024 2025 Change‬
Revenues 431.07 405.21 (6.0 %)
Gross Income 126.49 90.07 (28.8 %)
Operating Income 110.15 144.10 30.8 %
Net Income 111.30 129.94 16.7 %
Average Shares 10.00 10.00 -
Earnings Per Share before unusual items (Riyals) 11.13 13.23 18.9 %
EPS (Riyal) 11.13 12.99 16.7 %

The company cited improved operational performance and diversification of income sources, as revenues from contracting and third-party development contracts rose by 45% in 2025 due to project progress and higher completion rates.

 

It also logged a 77% annual increase in revenue from administrative services and property rentals, driven by the completion of development and the commencement of operations for several investment properties.



Current Half Annual Comparison (M)

Compared With The
Item H2 2024 H2 2025 Change‬
Revenues 342.05 271.10 (20.7 %)
Gross Income 95.54 55.13 (42.3 %)
Operating Income 87.66 121.81 39.0 %
Net Income 86.04 111.65 29.8 %
Average Shares 10.00 10.00 -
Earnings Per Share before unusual items (Riyal) 8.60 11.17 29.8 %
EPS (Riyal) 8.60 11.17 29.8 %

In H2 2025, meanwhile, net earnings amounted to SAR 111.7 million, up 30% from SAR 86.04 million in H2 2024.

 

Sequentially, the six-month bottom-line spiked from SAR 18.28 million in H1 2025.

 

Shareholders’ equity, no minority interest, reached SAR 469.57 million as of December 2025, up from SAR 320.2 million last year.

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