Business · Companies · 3 hrs ago
Knowledge Economic City profit rises 253% to 99.7 million riyals
Knowledge Economic City’s third-quarter profit rose 253% to 99.7 million riyals, up from 28.2 million a year earlier.
The Saudi company said housing projects and a land sale lifted revenue, with 169.6 million riyals recorded from selling a plot in July.
Revenue for the quarter nearly doubled to 245.1 million riyals, while operating profit reached 139.7 million riyals.
Income from a newly opened hotel also contributed to the increase, the company said.
Over the first nine months of the year, the company returned to a net profit of 71.3 million riyals, compared with a loss of 26.7 million in the same period last year.
The results show a strong quarterly increase, although the nine-month total was lower than the third-quarter profit alone.
Knowledge Economic City reported a third-quarter net profit of 99.7 million riyals, up 253% from 28.2 million riyals a year earlier.
Revenue for the quarter rose 98.8% to 245.1 million riyals.
The company attributed revenue growth to residential projects, a land sale and income from a recently opened hotel.
It recorded 169.6 million riyals in revenue from a land sale in July.
For the first nine months of the year, the company reported a net profit of 71.3 million riyals, compared with a loss of 26.7 million riyals a year earlier.
- Who
- Knowledge Economic City.
- What
- It reported third-quarter net profit of 99.7 million riyals, up 253% year on year.
- When
- The third quarter of 2026; results were published on Nov. 8, 2026.
- Where
- Not stated.
- Why
- The company cited stronger residential-project revenue, profit from selling a plot of land and income from a recently opened hotel.
This story does not have two clearly opposing sides.
The company recorded 169.6 million riyals in revenue from selling a plot of land.
Knowledge Economic City reported net profit of 99.7 million riyals.
The financial results were published.
- Third-quarter net profit
- 99.7 million riyals
- Year-on-year profit increase
- 253%
- Third-quarter revenue
- 245.1 million riyals
- Land-sale revenue
- 169.6 million riyals
- Nine-month net profit
- 71.3 million riyals