The profits of the Saudi real estate company surged by 218.2% in 2024.

The Saudi Real Estate Company achieved a significant leap in its net profits during 2024, with an increase of 218.2%. This rise is attributed to several key factors, including an increase in operating profit, a rise in profits from affiliated companies and joint ventures, as well as a decrease in zakat expenses. The net profit after zakat and tax reached approximately 215.1 million Saudi Riyals, compared to profits of 67.6 million Riyals in 2023. The company's revenues also saw remarkable growth, as sales and revenues increased by 9.56%, reaching about 1.98 billion Saudi Riyals, compared to 1.81 billion Riyals in 2023. This increase in revenue is due to several factors, including a 15% rise in revenues from property sales, primarily resulting from the launch of the "Fi Sidra-1" project in 2024 and the commencement of revenue recognition for the project. Additionally, revenues from infrastructure projects increased by 9%, due to the signing of new contracts in 2024 and an increase in completion rates on previous contracts. Furthermore, revenues from property rentals rose by 13%, attributed to higher occupancy rates and an increase in the average rental price per square meter. In trading activity, the price of Saudi Real Estate shares (TADAWUL: 4020) declined by 0.39% at the beginning of trading on Wednesday, trading at levels of 25.40 Saudi Riyals. Read also: - [In its second session.. Inmaa stock tops the most traded Saudi stocks by value](http://في ثاني جلساته.. سهم إنتاج يتصدر الأسهم السعودية الأكثر تداولاً بالقيمة) - [Saudi Investment stock defies the TASI trend and rises 1.1%](http://سهم السعودي للاستثمار يخالف اتجاه تاسي ويرتفع 1.1%)