JEDDAH: Shares in Saudi Arabia’s largest listed real estate developer by market capitalization, Jabal Omar Development 4250.SE, rose in an otherwise weak stock market on Thursday after it reported a quarterly profit for the first time since 2009.

The stock added 0.7 percent while Saudi Arabia’s main stock index edged down 0.4 percent.

Jabal Omar, which works on projects in Makkah, said it made a profit of SR431.3 million in the fourth quarter of the Hijri calendar year which ended last month, compared with a loss of SR17.6 million a year earlier.

The swing also made its full year profitable. Since 2009, the firm had only reported quarterly and yearly losses