<p class="MsoNormal"><span style="color:#000000">Tabreed has reported a 1.2% year-on-year decline in its net profit for the first nine months of 2025 to $114.4 million (AED 420 million), citing higher finance costs linked to its recent green sukuk issuance, which was used to refinance bank debt originally raised in a low-interest environment.</span></p>
