Al-Khana: 250 million dinars in eligible opportunities for 'Buyout'

Bayut Holding Company held its analyst conference for the second quarter of 2026, attended by Group Vice Chairman and CEO Abdulrahman Al-Khana and Group Chief Financial Officer Ahmed Shawqi.

Al-Khana outlined the key developments in the “Bayut Plus” project in Mulhat, noting that the current completion rate stands at approximately 50%. He expects the opening to take place in the third quarter of 2027. The project, valued at 100 million dinars, features leasable areas of around 168,000 square meters and will serve a population estimated between 300,000 and 500,000 residents in Mulhat City by 2030.

He pointed out that leasing operations are progressing successfully, with contracts signed with major tenants covering approximately 34% to 35% of the leasable area. Advanced negotiations are underway with 36 other major tenants to occupy the remaining spaces.

Al-Khana revealed that Bayut targets generating revenues of approximately 13 million dinars from the Mulhat project upon reaching 95% operational capacity, which will be achieved gradually over a timeline ranging from one to 18 months. Upon achieving revenues of 13 million dinars, the company expects to realize a net profit of nearly 4 million dinars specifically from this project.

Regarding new contracts, Al-Khana disclosed that the value of contracts won by Bayut so far amounts to approximately 10 million dinars. The company maintains a strong pipeline of qualified opportunities totaling 250 million dinars, including 150 million dinars at various stages of the contracting cycle. He emphasized that Bayut’s win rate in government tenders remains very strong, maintaining a competitive leading position primarily due to the efficiency of its cost structure and the professionalism of its pricing team.

Thus far, the company has secured contracts worth 10 million dinars. However, as the company reaches the midpoint of the year, its performance indicator remains in the red zone compared to its annual target of 75 million dinars, as certain delays related to award cycles have temporarily slowed progress toward the goal.

Regarding Bayut’s current pipeline of opportunities and projects, Al-Khana highlighted opportunities valued at 150 million dinars in the qualification stage, and additional opportunities worth 85 million dinars in the development stage, involving direct contract negotiations and pricing. Therefore, the primary objective is to convert these promising opportunities into actual contracts.

On the topic of growth rates in regional markets since the launch of the regional expansion plan, Al-Khana noted that growth exceeds 10%, significantly surpassing this figure in several markets such as Saudi Arabia, where growth reached approximately 100%. Meanwhile, revenues in the UAE increased by 80%, and the company is now reaping the benefits of this expansion.