Dubai, UAE — Saudi Arabia’s Umm Al Qura for Development and Construction Co., known as Masar, reported a sharp rise in annual profit in 2025 as higher land plot sales boosted revenue and operating income.
The company said net profit rose 97.2% to 983.4 million riyals ($262 million), compared with 498.6 million riyals a year earlier.
Revenues increased 59.2% to 2.9 billion riyals in 2025 from 1.82 billion riyals in 2024. Gross income climbed 61.7% to 1.36 billion riyals, while operating income nearly doubled, rising 96.1% to 1.09 billion riyals.
The increase in profit was mainly driven by higher revenue from the sale of land plots, the company said.
Average shares rose 10% to 1.44 billion in 2025 from 1.31 billion a year earlier. Earnings per share increased to 0.68 riyals from 0.38 riyals.
Despite the strong annual performance, the company reported a decline in fourth-quarter earnings.
Net profit for the three months to December fell 62.8% to 70.5 million riyals from 189.5 million riyals in the same period a year earlier.
Quarterly revenues dropped 41.5% to 466.2 million riyals from 796.5 million riyals a year earlier, while operating income fell 33.8% to 128.8 million riyals.
On a sequential basis, fourth-quarter net profit declined 86.4% from 516.6 million riyals recorded in the third quarter of 2025.
Total shareholders’ equity, excluding minority interest, rose to 15.86 billion riyals as of Dec. 31, 2025, compared with 12.96 billion riyals a year earlier.