Sumou Real Estate Reports 3.5% Profit Growth to SAR 107 Million by End of 2024

09 Mar 2025

Riyadh -Maaal

اقرأ المزيد

Sumou Real Estate announced on Sunday, March 9, that its net profit increased 3.5% to SAR 107 million in 2024, up from SAR 103 million in 2023. This follows the release of the company’s preliminary financial results for the period ending December 31, 2024.

Key Financial Highlights:

Operating profit declined 8% to SAR 95 million in 2024, compared to SAR 103 million in 2023.

Shareholders’ equity (excluding non-controlling interests) rose 18% to SAR 634 million, up from SAR 537 million in 2023.

Earnings per share (EPS) stood at SAR 2.13, compared to SAR 2.06 in 2023.

In a statement on Tadawul, the company attributed the 57% revenue growth for the financial year ending December 31, 2024, compared to the previous year, to:

Higher completion rates in licensed real estate projects sold off-plan in 2024 compared to 2023.

Increased revenue from construction activities in 2024 compared to 2023.