Bin Saedan Real Estate Reports SAR 12.13M Net Profit in the Six Months 2026
HAMAD BIN SAEDAN REAL ESTATE 9648.SA | 0.00 |
On 2026-08-27 15:41:13 (Saudi Time), Hamad Mohammed Bin Saedan Real Estate Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 37,868,780 | 33,286,777 | 13.765 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 12,132,009 | 6,186,703 | 96.098 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 316,361,103 | 260,691,375 | 21.354 | ||
| Profit (Loss) per Share | 0.43 | 0.26 | |||
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is |
The increase in revenue during the current period compared to the corresponding period of the previous year was mainly attributable to the growth in revenue from the sale of land and real estate properties, which reached SAR 26,477,219, compared to SAR 7,510,000 in the corresponding period of 2025. Revenue from lease contracts also increased to SAR 3,504,196, compared to SAR 2,231,784, in addition to an increase in revenue from the sale of software and technology subscriptions to SAR 160,939, compared to SAR 114,166 in the corresponding period of 2025.
This increase was achieved despite a decrease in revenue from real estate participations with third parties to SAR 7,383,463, compared to SAR 20,436,379, and a decrease in revenue from real estate brokerage services to SAR 342,963, compared to SAR 2,994,448 in the corresponding period of 2025. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The increase in net profit during the current period compared to the corresponding period of the previous year was mainly attributable to the increase in the Group’s share of net profits from joint ventures to SAR 20,794,816, compared to SAR 1,744,713 in the corresponding period, primarily driven by the Group’s share of profits from Mawtan Al-Tasheed Limited Company. In addition, revenues increased by 13.77% as a result of growth in revenues from the sale of land and real estate properties. This was accompanied by a decrease in gains from the sale of investment properties and gains from financial investments at fair value, as well as the recognition of provisions for White Land Fees. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items |
1- The Al-Nazim District Warehouses Project was reclassified under Investment Properties instead of Work Under Development, as the purpose of the project is to hold it for rental purposes rather than for sale in the ordinary course of the Group’s business. The project balance amounted to SAR 52,348,453 as of 1 January 2025, and SAR 55,256,530 as of 31 December 2025.
2- The value of third-party real estate participations related to the residential units in the Rose Project was reclassified under Investment Properties instead of Inventory of Land and Residential Units Available for Sale. This was due to the Group’s management reclassifying those units to Investment Properties during 2025 without including the related third-party real estate participations, which amounted to SAR 598,523. This has been corrected, and the amount has been reclassified under Investment Properties. 3- Advertising and publicity expenses amounting to SAR 500,950 were reclassified from General and Administrative Expenses to Selling and Marketing Expenses to conform with the presentation of the current period. |
Year-on-Year Performance Drivers
Sales/Revenue increased 13.765% YoY to SAR 37.87 million (from SAR 33.29 million), primarily driven by significant growth in revenue from the sale of land and real estate properties (SAR 26.48 million vs. SAR 7.51 million) and higher lease contract revenue (SAR 3.50 million vs. SAR 2.23 million), partially offset by a sharp decline in revenue from real estate participations with third parties (SAR 7.38 million vs. SAR 20.44 million) and a decrease in brokerage services revenue (SAR 0.34 million vs. SAR 2.99 million). Net profit attributable to shareholders nearly doubled, rising 96.098% YoY to SAR 12.13 million (from SAR 6.19 million), mainly due to a substantial increase in the Group's share of net profits from joint ventures to SAR 20.79 million (vs. SAR 1.74 million), largely from Mawtan Al-Tasheed Limited Company, alongside the revenue growth, though partially tempered by decreased gains from the sale of investment properties, lower gains from financial investments at fair value, and the recognition of provisions for White Land Fees.
Other Items
The external auditor issued an unmodified conclusion on the interim financial results for the six months ended June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 316,361,103, compared to SAR 260,691,375 in the same period of the previous year, representing a 21.354% increase. Earnings per share were SAR 0.43, up from SAR 0.26 in the corresponding period. No accumulated losses were reported. Several reclassifications were made to prior period comparatives: the Al-Nazim District Warehouses Project was reclassified from Work Under Development to Investment Properties (balance of SAR 52,348,453 as of January 1, 2025, and SAR 55,256,530 as of December 31, 2025); third-party real estate participations of SAR 598,523 related to residential units in the Rose Project were reclassified from Inventory of Land and Residential Units Available for Sale to Investment Properties; and advertising and publicity expenses of SAR 500,950 were reclassified from General and Administrative Expenses to Selling and Marketing Expenses to conform with current period presentation.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97832&anCat=1&cs=9648&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.