First Avenue Real Estate Development Company

First Avenue Real Estate Development Company is a Saudi Arabian real estate developer listed on the Saudi Exchange under ticker 9610. The company focuses on developing residential and commercial properties, including land subdivision, construction, and sale of villas, apartments, and office spaces. Its operations are primarily concentrated in the Kingdom of Saudi Arabia, targeting both end-users and investors seeking real estate assets.

The company generates revenue primarily from the sale of developed properties, including completed residential units and land plots. It also earns income from construction contracts and property management services. In the latest fiscal year, revenue reached approximately 59.55 million SAR in Q2 2025 and 115.86 million SAR in Q1 2025, with net income fluctuating significantly due to project timing. The business model relies on acquiring land, obtaining permits, developing infrastructure, and marketing units to buyers.

First Avenue operates in the real estate development sector, a key component of Saudi Arabia's Vision 2030 economic diversification plan. The industry is highly competitive, with numerous local and regional players. The company's financial metrics show a moderate market cap of 1.31 billion SAR, a P/E ratio of 12.16, and a high EV/EBITDA of 42.72, indicating significant debt relative to earnings. Its gross margin of 28.45% and profit margin of 33.96% suggest efficient cost management, but revenue declined 2.8% year-over-year, while earnings grew 9%.

The company's target audience includes Saudi nationals and expatriates seeking residential properties, as well as investors looking for rental income or capital appreciation. Its primary geographic market is Saudi Arabia, particularly major cities like Riyadh, Jeddah, and Dammam. The company also caters to government and semi-government entities through large-scale development projects aligned with national housing initiatives.

An auto-generated descriptive profile based on company data, for informational purposes only.