Taiba Investments Profits Soar 37% For Q1 of 2025
Taiba Investments, the leading hospitality company in Saudi Arabia, posted SAR 131.3 million of profits during the first quarter of 2025, up 37% compared to the same period last year, a rise driven by increased revenues from the company's hotel and residential sectors, according to a statement on the Saudi Stock Exchange (Tadawul) website.
The company's net profits for the first quarter of this year increased by 36.6% year-on-year to SAR 131.3 million, compared to SAR 96.1 million during the first quarter of 2024, the statement said.
During the first quarter of 2025, Taiba Investments posted operating revenues of SAR 357.8 million, an increase of SAR 25.7 million or 7.7% compared to SAR 332.1 million of the same quarter of 2024. This growth is primarily attributable to higher revenues from the company's hospitality and residential sectors, driven by improved occupancy rates and increased revenues from the company's properties in both Makkah and Madinah due to the rise in the number of visitors and Umrah pilgrims, as well as the seasonality of operations.
Earnings per share jumped 36.6% during the first quarter of this year to 0.50 riyals, compared to 0.37 riyals during the same period last year.
On a quarterly basis, Taiba Investments' revenues for the first quarter of 2025 increased by SAR 20.5 million, or 6.1%, compared to the last quarter of 2024. This increase is attributable to higher revenues from the company's properties, supported by the seasonal nature of operations. Meanwhile, the company's net profit jumped 45.7% during the first quarter of this year, an increase of SAR 41.2 million compared to the fourth quarter of 2024, due to the increase in revenues.
Sultan Badr Al-Otaibi, CEO of Taiba Investments, commented: 'The increase in Taiba Investments' profits during the first quarter of 2025 comes in light of the significant development of the tourism sector in the Kingdom and the enablers and support provided by the Saudi government within the goals of Saudi Vision 2030.'
'This development has positively impacted the hospitality sector and led to a clear improvement in the sector's revenues,' Al-Otaibi stressed.
'The financial statements for the first quarter of this year demonstrate the strong returns of the company's investment in providing a comprehensive and upscale accommodation experience, meeting the highest international standards, for pilgrims and Umrah performers, reflecting the authenticity of Saudi hospitality and enhancing the spiritual experience for visitors to Makkah and Madinah.', Al-Otaibi added.
Taiba Investments has a portfolio of approximately 40 properties, including hotels, residential communities, and commercial plazas. Taiba manages over 7,700 keys and has an additional 8 properties in development, in addition to partnerships with global hotel brands such as Marriott International, Sheraton, Crowne Plaza, and Holiday Inn.
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