Benan Real Estate’s profits decreased to 9.9 million riyals in the first quarter

The profits of Benan Real Estate Company in the first quarter of 2025 decreased by 26.7% to 9.99 million riyals, compared to 13.63 million riyals in the same quarter of last year.
According to the company’s statement on the circulation of Saudi Arabia, the reason for the decrease in the net profit during the current quarter compared to the same quarter of the previous year is due to the presence of profits from the sales of Al -Qadisiyah lands in the first quarter of 2024 AD.
The reason for the rise in the net profit during the current quarter compared to the previous quarter is due to:
1- Increasing leasing revenues by 34%.
2- There is a allocate for losses in the previous quarter at a value of 1.084 million riyals, and the current quarter. There is a response to the provision of 502 thousand riyals to collect amounts of tenants.
3- The presence of a decrease in the value of investment real estate in the previous quarter of 616 thousand riyals, and the current quarter there are profits from the opposite of the decrease of 262 thousand riyals.