Jabal Omar posts SAR 261.61 million loss in the third quarter
Jabal Omar Development posted a net loss of SAR 261.61 million in the third quarter of 2026, as nine-month profit fell to SAR 13.51 million.
Jabal Omar Development recorded a net loss of SAR 261.61 million in the third quarter of 2026, after its profit declined over the first nine months of the year.
The company's profit over the first nine months reached SAR 13.51 million, compared with SAR 1,101.73 million in the corresponding period a year earlier.
Chief Executive Walid Al-Harthi said half of the hotel portfolio is still ramping up, and that he expects profitability to improve.
The company plans to sell luxury hotel-residential units in Makkah to non-Saudis, a step aimed at reducing debt.
What do these terms mean?
Net loss: The company's final result after deducting all expenses and costs from revenue, which is negative when expenses exceed revenue.
Hotel portfolio: The group of hotels the company owns or manages, whose performance is measured by room count, occupancy rates and operating returns.
Ramp-up: The stage in which a hotel starts receiving guests before reaching full capacity, with revenue rising gradually as occupancy increases.
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