Masar quarterly profit jumps 29% to SAR 666.9 million on land sales

Umm Al Qura for Development and Construction (Masar) posted a 29.1% increase in third-quarter profit this year, reaching 666.92 million riyals (SAR), up from 137.39 million riyals in the third quarter of 2025.

Quarter-on-quarter, Masar's profit surged 208.6% compared to the second quarter, when it recorded 216.1 million riyals.

In a statement on Tadawul Saudi, the company attributed the rise in net profit mainly to higher revenue from land sales.

Masar's quarterly revenue reached approximately 1.6 billion riyals, compared to 1.3 billion riyals in the same quarter last year, marking a 29.4% increase.

Revenue also rose 79% quarter-on-quarter, up from 915.87 million riyals in the second quarter.

The company said the growth in quarterly revenue was due to higher land sales, both in value and number of plots sold.

During the first nine months of the year, Masar reported a 1.6% increase in profit to 927.95 million riyals, compared to 912.9 million riyals in the same period last year.

Revenue for the nine-month period rose 8.1% to 2.6 billion riyals, up from 2.4 billion riyals in the corresponding period of 2025, which the company attributed to increased land sales and number of transactions.