Saudi Arabia · Delayed Price · Currency is SAR Makkah Construction and Development Company Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and net income were achieved, driven by strong mall and hospitality performance, asset enhancements, and disciplined capital allocation. Ongoing renovations and new developments are set to nearly double gross profit to SAR 900 million, with robust demand and limited supply supporting future growth.
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Revenue and net income grew 7% and 8% year-over-year, driven by strong Mall performance and resilient Hotel and Towers operations. Major investments included the Ajyad land acquisition and a SAR 400 million renovation plan, with guidance maintained for 2026.
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Revenue and net income grew 16% and 15% year-over-year, driven by strong commercial mall and Hajj segment performance. Cash position strengthened by Jabal Omar share sale, with major CapEx planned for hotel renovation and mall enhancement.
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Revenue grew 53% year-on-year to SAR 952 million and net profit rose 14% to SAR 335 million, driven by strong core asset performance and a successful Hajj season. Strategic investments and renovations progressed as planned, with focus on margin improvement and disciplined execution.