Saudi Arabia: Kingdom Holding Co., the developer behind what is set to become the world’s tallest building — Jeddah Tower — reported a 73 percent jump in annual profit driven by investment gains and rising portfolio valuations. 

Net profit attributable to shareholders rose to SR2.14 billion ($570 million) in 2025, up from SR1.24 billion a year earlier, the Riyadh-based company said in a Tadawul filing. 

The increase was supported by gains on the sale of an equity-accounted investee, impairment reversals, higher dividend income and lower financing costs. Stronger hospitality revenue also contributed, the company said. 

In a separate statement, KHC revealed that its board of directors recommended a cash dividend of SR1.03 billion, or SR0.28 per share, for 2025.

Talal Ibrahim Al-Maiman, CEO of Kingdom Holding, said: “These 2025 results highlight one of KHC’s core competitive strengths — our ability to originate and access exclusive private investment opportunities.

“The net asset valuation uplift following the xAI SpaceX latest funding round and Flynas’s IPO are clear examples of how this strategy can unlock significant value for our shareholders.”  

He added: “KHC’s public equity portfolio delivered a strong performance in 2025, while the company’s land, real estate, and hospitality investments continued to provide substantial long-term upside, supported by the Kingdom’s economic momentum and accelerating development pipeline.” 

According to the statement, the company’s revenue in 2025 stood at SR2.69 billion, marking a year-on-year increase of 12.62 percent. 

Total comprehensive income attributable to shareholders of the company also increased by 352.57 percent year on year to SR20.50 billion. 

Total shareholders’ equity after deducting minority equity amounted to SR58.40 billion in 2025, marking a rise of 50.01 percent from the previous year. 

“KHC’s performance in 2025 reflects the twin strengths of a diversified portfolio and a robust financial position,” said Adel Abdulaziz Alabdulsalam, chief financial officer of KHC. 

He added that the rise in net profit in 2025 was supported by higher income from core investments, valuation gains, and disciplined debt and financing cost management. 

Established in 1979, KHC operates in multiple sectors including real estate, hospitality, health care, financial services, education and aviation.

In its financial statement, the company said construction of Jeddah Tower is progressing, “with facade cladding underway, and MEP works in progress.”

It added: “The tower has reached Level 91 at ~370m, with an average five-day floor cycle, supported by a workforce of c.5,200 and strong safety performance, including over 8 million hours without a lost-time incident and zero fatalities.” 

Al-Maiman said in January the tower is expected to be completed in 2028.

The Red Sea project will include residential, commercial and office space, a luxury hotel, and what is expected to be the world’s highest observation deck at 630 meters.