Dar Al Majed Real Estate Company, known as Al Majdiah, reported revenue of SAR 691.7 million for the nine months ended 30 September 2026. Reported revenue fell 24% year on year, according to financial results summarized by Argaam. The comparable 2025 period included SAR 314.5 million in land sales.
Property-unit sales supported underlying growth
The Saudi developer said revenue rose 16.1% year on year excluding land sales. It attributed that increase to higher property-unit sales and stronger contributions from development services and rental income.
Net profit for the nine months was SAR 90.95 million, down from SAR 249.06 million in the prior-year period. Al Majdiah said it continued to develop its project portfolio and expand its recurring income base during the period.
Cover image: AI-generated editorial illustration of residential buildings in Riyadh.
