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Benin Real Estate Company, which manages and leases residential and non-residential properties, revealed that its profits increased to 29.96 million riyals by the end of the first nine months of 2026, compared to the profits of 26.95 million riyals in the same period of 2025, according to the company’s statement on the company’s website “Tadawul” Saudi Arabia.
The company reported that the reason for the increase in profits during the current period compared to the same period of the previous year is due to the increase in leasing revenues by 2% compared to the same period of the previous year, as a result of the increase in rental revenues for some contracts in Bannan Real Estate Company and its subsidiary, Al-Azizah Investment and Real Estate Development Company, and the decrease in financing expenses by 44%, to reach 4.2 million riyals during the current period, compared to 7.6 million riyals during the same period of the previous year.
The cost of financing in the current quarter was SAR 1.44 million compared to SAR 2.37 million in the same quarter of 2025
This was offset by a decrease in the cost of financing by 39%, as the cost of financing in the current quarter amounted to SAR 1.44 million, compared to SAR 2.37 million in the same quarter of the previous year.
It is noteworthy that the company attributed the reason for the decline in profits during the current quarter, compared to the previous quarter, to the increase in the cost of revenues by 7%; to reach 3.54 million riyals during the current quarter, compared to 3.33 million riyals during the previous quarter, and the previous quarter included a discount of 973 thousand riyals, while a provision of 32 thousand riyals was formed during the current quarter
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