Driving Sustainable Value Through Financial Discipline
Our financial performance reflects the strength of Alandalus Property Company's diversified portfolio, disciplined capital management, and long-term growth strategy. Through transparent reporting and responsible financial stewardship, we continue to create sustainable value for shareholders while supporting the Company's strategic expansion and operational excellence.
Financial Highlights
The Company's financial performance over the past five years reflects continued growth, operational resilience, and a commitment to sustainable value creation. The following highlights provide an overview of key financial indicators and the Company's progress in executing its long-term strategy.
Income Statement
The table below shows the actual income statements of the company for the years: 2021, 2022, 2023, 2024 and 2025
| In thousand SAR | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenues | 214,386 | 216,108 | 215,156 | 235,887 | 237,077 |
| Cost of Revenues | 69,360 | 73,700 | 77,451 | (90,740) | (94,113) |
| Gross Profit | 145,026 | 142,408 | 137,705 | 145,147 | 142,964 |
| Administrative and General Expenses | 41,242 | 41,617 | 48,170 | (57,297) | (67,514) |
| Marketing Expenses | 1,805 | 1,640 | 3,132 | (3,882) | (3,439) |
| Share of Profit from Equity-Accounted Investees | 27,247 | 25,803 | 24,051 | (33,908) | (11,489) |
| Decrease in Trade Receivables from Operating Lease Contracts | 7,240 | 4,863 | 11,000 | (1,900) | (9,834) |
| Loss on Impairment of Property, Equipment, and Investment Properties | - | - | - | (8,000) | (3,000) |
| Reversal of Impairment/Loss on Property, Equipment, and Investment Properties | 19.49 | 1,840 | - | - | - |
| Other Revenues | 1,204 | 5,335 | 7,335 | 7,296 | 4,238 |
| Operating Profit | 125,140 | 127,266 | 106,789 | 47,456 | 51,926 |
| Interest Expenses on Lease Liabilities | 12,264 | 11,955 | 11,618 | (13,456) | (7,920) |
| Financing Costs | 14,057 | 20,850 | 40,559 | (54,790) | (58,794) |
| Gains from disposal of a subsidiary | - | - | - | - | 3,956 |
| Profit Before Zakat | 98,818 | 94,461 | 54,612 | (20,790) | (10,832) |
| Zakat | 7,169 | 7,167 | 5,953 | (2,948) | (1,711) |
| Net Profit for the Year | 91,650 | 87,294 | 48,659 | (23,738) | (12,543) |
| Attributable to: | |||||
| Company Shareholders | 67,976 | 66,774 | 36,417 | (31,949) | (18,643) |
| Non-Controlling Interests | 23,674 | 20,520 | 12,242 | 7,862 | 5,730 |
| Other Comprehensive Income | - | - | - | - | - |
| Re-measurement of Employee Benefits – Defined Benefit Obligations | 236 | 706 | 298 | (349) | (370) |
| Total Comprehensive Income | 91,886 | 86,588 | 48,361 | (24,087) | (12,913) |
| Attributable to: | |||||
| Company Shareholders | 68,212 | 66,068 | 36,119 | (31,949) | (18,643) |
| Non-Controlling Interests | 23,674 | 20,520 | 12,242 | 7,862 | 5,730 |
| Earnings per Share (EPS) | 0.73 | 0.72 | 0.39 | (0.34) | (0.20) |
Revenue Analysis
By Company Activities
| In thousand SAR | City | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|
Revenue | Alandalus Mall | Jeddah | 125,376 | 101,712 | 126,525 | 125,266 | 121,944 | 137,568 |
| Al Sahafa Center | Riyadh | 5,326 | 4,901 | 4,769 | 5,860 | 5,697 | 5,895 | |
| Yasmeen Tower | Riyadh | - | - | - | - | - | 18,577 | |
| Al Yarmouk Center | Riyadh | 4,869 | 4,500 | 4,551 | 5,007 | 5,072 | 5,298 | |
| Tilal Center | Riyadh | 4,675 | 4,468 | 4,820 | 4,996 | 4,808 | 4,813 | |
| Head Office Building | Riyadh | 1,027 | 513 | 433 | 433 | 433 | 613 | |
| Alandalus Mall Hotel, Jeddah | Jeddah | 16,890 | 8,547 | 11,459 | 14,384 | 15,589 | 15,331 | |
| Al Marwah Center | Jeddah | 8,468 | 7,650 | 10,276 | 10,019 | 10,201 | - | |
| Salama Tower | Jeddah | 9,430 | 19,250 | 23,100 | 23,100 | 23,100 | 18,793 | |
| Quebec Building | Riyadh | - | 11,783 | 22,285 | 22,285 | 22,285 | 23,600 | |
| Commercial Centers Operation | Riyadh | - | 3,781 | 4,734 | 4,273 | 5,026 | 4,625 | |
| Commercial Centers Leasing | Riyadh | - | 720 | 1,434 | 485 | 1,001 | 1,964 | |
| Total Revenue | 176,061 | 167,825 | 214,386 | 216,108 | 215,156 | 237,077 |
| In thousand SAR | City | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|
Revenue | Alandalus Mall | Jeddah | 71.2% | 60.6% | 59% | 58% | 56.7% | 58.03% |
| Al Sahafa Center | Riyadh | 3% | 3% | 2.2% | 2.7% | 2.7% | 2.49% | |
| Yasmeen Tower | Riyadh | - | - | - | - | - | 7.84% | |
| Al Yarmouk Center | Riyadh | 2.8% | 2.7% | 2.1% | 2.3% | 2.5% | 2.23% | |
| Tilal Center | Riyadh | 2.7% | 2.7% | 2.2% | 2.3% | 2.2% | 2.23% | |
| Head Office Building | Riyadh | 0.6% | 0.3% | 0.2% | 0.2% | 0.2% | 0.26% | |
| Alandalus Mall Hotel, Jeddah | Jeddah | 9.6% | 5% | 5.3% | 6.7% | 7.2% | 6.47% | |
| Al Marwah Center | Jeddah | 4.8% | 4.5% | 4.8% | 4.6% | 4.7% | - | |
| Salama Tower | Jeddah | 5.4% | 11.5% | 10.8% | 10.7% | 10.7% | 7.93% | |
| Quebec Building | Riyadh | - | 7% | 10.4% | 10.3% | 10.3% | 9.95% | |
| Commercial Centers Operation | Riyadh | - | 2.2% | 2.2% | 2% | 2.3% | 1.95% | |
| Commercial Centers Leasing | Riyadh | - | 0.5% | 0.7% | 0.2% | 0.5% | 0.82% | |
| Total Revenue | 100% | 100% | 100% | 100% | 100% | 100% |
Governance Built on Integrity. Growth Driven by Accountability
Our governance framework is founded on transparency, accountability, and ethical business conduct. Through robust oversight, effective risk management, and adherence to leading governance standards, we support sustainable growth and protect the interests of shareholders and stakeholders alike.
Explore Annual Report 2025
Growth Reinforces Sustainability
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