First Avenue for Real Estate Development Co. announces its Annual Financial results for the period ending on 2025-12-31

1. Real Estate Development and Sales Segment:

This segment grew 9% compared to the corresponding period of the previous year, driven by the Company’s continued efforts to market and sell ready-to-sell real estate units across its various projects.

2. Contracting Segment (Third-Party Development):

This segment recorded an 18% increase compared to the corresponding period of the previous year, driven by progress in executing real estate development projects and higher completion rates for ongoing projects.

3. Leasing Segment:

This segment achieved 19% growth compared to the corresponding period of the previous year, driven by increased contributions from income-generating investment properties and the commencement of returns from certain investment assets.

4. Commissions and Real Estate Brokerage Segment:

This segment increased by 148% compared to the corresponding period of the previous year, primarily due to the exceptional positive impact of the previously announced real estate brokerage fees.

1. A 28% increase in revenue, primarily driven by improved operational performance across all business segments, including the exceptional positive impact of real estate brokerage fees previously disclosed.

2. Recognition of gains from the sale of investment properties amounting to SAR 18.3 million during the period.

3. An increase in unrealized gains from the fair value revaluation of investment properties, reaching approximately SAR 77.7 million compared to SAR 17.4 million in the corresponding period of the previous year, due to an increase in the fair values of certain real estate assets.

4. Net financing costs recognized in the statement of profit or loss decreased by 40% compared to the corresponding period of the previous year.

5. Recognition of unrealized gains from the fair value revaluation of financial investments through profit or loss amounting to SAR 5.3 million.

Despite the following:

1. Recognition of losses from the Company’s share of results of equity-accounted investments amounting to SAR 6.4 million in 2025, compared to SAR 0.99 million in the corresponding period of the previous year.

2. Recognition of losses arising from the liquidation of a subsidiary due to the write-off of goodwill amounting to SAR 2.4 million.

3. Recognition of an impairment provision on advances paid for the purchase of investment properties amounting to SAR 8.5 million.

4. An increase in zakat expense to SAR 16.4 million in 2025, compared to SAR 4.9 million in the corresponding period of the previous year.