Real estate development companies listed on the stock market «Tadawul» maintained their earnings levels during the second quarter of 2026 compared to the same period last year, supported by improved results from a number of companies, while the decline in earnings at other companies weighed on the sector’s overall results during the first half of this year.
According to financial disclosure data for real estate companies listed on the TASI index, consolidated profits totaled approximately 1.455 billion riyals during the second quarter of 2026, compared to 1.462 billion riyals in the same quarter of 2025, a slight decrease of 0.49%.
Conversely, the sector showed improvement on a quarter-over-quarter basis, as its profits rose by 2.36% during the second quarter compared to the first quarter of this year, during which companies recorded consolidated profits of approximately 1.421 billion riyals.
Profits Declined for 7 Companies
The sector’s results came under pressure from a decline in profits at seven companies during the second quarter, led by "Sinomi Centers," which, despite its lower profits, maintained its top position among companies in the sector.
Sinomi Centers reported profits of 385.7 million riyals during the second quarter, a decrease of 18.4% year-over-year. Despite this decline, the company saw a strong improvement compared to the previous quarter, as its profits jumped by 90.47% from 202.5 million riyals in the first quarter.
Dar Al-Arkan ranked second with profits of 238.74 million riyals, recording marginal growth of 0.05% compared to the second quarter of last year, while «Masar» came in third with a net profit of 216.1 million riyals, despite a year-over-year decline in profits of approximately 8.7%.
In contrast, «Mecca» posted a positive performance, with its profits rising to 172.6 million riyals during the second quarter, representing year-over-year growth of 19.7%.
Jabal Omar also posted profits of 158.13 million riyals, compared to losses recorded in the same quarter of the previous year—a turnaround that reflects a remarkable improvement in the company’s results year-over-year.
Improvement Among Some Loss-Making Companies
On the other hand, four real estate companies reported losses during the second quarter of 2026, led by «Emaar» with losses of 22 million riyals.
Although the company posted losses, it succeeded in reducing them by 76.3% compared to the second quarter of 2025.
As for "Ratal," it posted losses of 17.2 million riyals during the second quarter, shifting to a loss on a year-over-year basis.
634 million riyals decline in first-half profits
For the first half of 2026, the picture appeared more challenging, as consolidated profits for real estate sector companies fell by 18.07% year-over-year. Total profits during the first six months of the year amounted to approximately 2.875 billion riyals, compared to 3.509 billion riyals during the same period in 2025, a decrease of 634 million riyals.
This decline reflects a clear disparity in company performance, as some companies managed to post strong profit jumps, while others experienced significant declines or incurred losses during the period.
«Sinomi Centers» leads the pack, and «Al-Aqaria» surges 152%
"Sinomi Centers" "Sinomi Centers" maintained its position as the sector’s largest company in terms of profits during the first half, after posting a net profit of 588.2 million riyals, despite a 14.7% decline in profits compared to the first half of 2025.
A notable development during the period was «Al-Aqaria» rising to second place, after posting profits of 579 million riyals, marking a significant year-over-year jump of 152.2%.
«Dar Al-Arkan» came in third with profits of 498.97 million riyals, an annual increase of 11.4%, while «Mecca» ranked fourth with profits of 334.8 million riyals. «Jabal Omar» ranked fifth with profits of 275.12 million riyals during the first half of the year.
Only 3 Companies in the Red
In contrast, the number of companies reporting losses in the real estate sector during the first half of 2026 fell to just 3.
Emaar topped the list of loss-making companies with losses of 203 million riyals, while «Knowledge City» recorded losses of 28.34 million riyals, and «Red Sea» came in third with losses of 14.32 million riyals.
