Profits at real estate companies listed in the real estate management and development sector on the Saudi Stock Exchange (TASI) fell by 18.07% during the first half of 2026, reaching approximately 2.875 billion riyals, compared to 3.509 billion riyals during the same period in 2025, a decrease of approximately 634 million riyals, according to the companies« financial disclosures on »Tadawul.«
Despite the decline recorded in the first six months, second-quarter results showed greater stability, with the sector’s consolidated profits totaling approximately 1.455 billion riyals, compared to 1.462 billion riyals in the same quarter of last year, a slight decrease of 0.49%.
On a quarterly basis, the sector’s profits rose by 2.36% in the second quarter compared to the first quarter of this year, during which companies reported profits attributable to shareholders of approximately 1.421 billion riyals.
"Sinomi Centers« Tops First-Half Earnings
»Sinomi Centers« topped the list of real estate companies in terms of earnings during the first half of 2026, with a net profit of 588.2 million riyals, despite a 14.7% year-over-year decline in earnings.
Al-Aqaria came in second with profits of 579 million riyals, recording a strong year-over-year jump of 152.2%, making it one of the leading companies supporting the sector’s results during the period.
»Dar Al-Arkan« ranked third with net profits of 498.97 million riyals, representing an 11.4% increase compared to the first half of last year, while »Makkah« and »Jabal Omar« in fourth and fifth place with profits of 334.8 million riyals and 275.12 million riyals, respectively.
Relative Stability in the Second Quarter
In the second quarter, the sector maintained a level of profits close to that of the same period last year, despite a decline in profits for seven companies.
»Sinomi Centers" topped the list of the most profitable companies during the quarter, with a net profit of 385.7 million riyals, down 18.4% year-over-year, however, its profits rose sharply compared to the previous quarter by 90.47%, after recording approximately 202.5 million riyals in the first quarter.
»Dar Al-Arkan" came in second with profits of 238.74 million riyals, a marginal increase of 0.05% year-over-year, followed by "Masar« with profits of 216.1 million riyals, despite a decline of 8.7%.
»Makkah« reported profits of 172.6 million riyals in the second quarter, representing year-over-year growth of 19.7%, while Jabal Omar posted profits of 158.13 million riyals, compared to losses in the same quarter last year.
»Emaar« Tops the List of Losses
In contrast, four companies reported losses during the second quarter of this year, led by Emaar with a loss of 22 million riyals, despite a 76.3% year-over-year reduction in its losses.
Ratal also posted a loss of 17.2 million riyals during the second quarter, shifting to a loss compared to the same quarter of the previous year.
For the first half of the year, only three companies reported losses: Emaar, with a loss of 203 million riyals, »Knowledge City" with a loss of 28.34 million riyals, and "Red Sea« with a loss of 14.32 million riyals.
The results reflect a clear disparity in the performance of companies real estate sector. While some companies managed to achieve strong profit growth during the first half, others faced pressures that led to a decline in profits or losses, which ultimately led to a decline in the sector’s overall profits compared to the first half of 2025. Profits totaled 498.97 million riyals, representing year-over-year growth of 11.4%, while »Mecca« and »Jabal Omar« maintained fourth and fifth place with profits of 334.8 million riyals and 275.12 million riyals, respectively.
3 Companies Posted Losses in the First Half
On the other hand, the list of companies that posted losses in the real estate sector during the first half of 2026 was limited to three companies.
Emaar recorded the largest loss among companies in the sector at approximately 203 million riyals, followed by Knowledge City with a loss of 28.34 million riyals, and then Red Sea with a loss of 14.32 million riyals.
The overall results indicate that the stabilization of profits during the second quarter was not sufficient to offset the decline recorded in the first quarter, leaving the sector’s performance during the first half below its level in the corresponding period last year, with significant disparities continuing among companies in terms of growth and profitability rates.
