Jadwa REIT AlHaramain Fund trimmed net losses to SAR 9 million (SAR -0.14 per unit) for H1 2021, compared to SAR 68.1 million for the same period last year, according to a bourse filing by fund manager Jadwa Investment.
Funds from operations (FFO) stood at SAR 3.4 million in H1 2021, compared to a loss of SAR 1.6 million in the year-earlier period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Rental Income | 8.07 | 8.00 | (0.8 %) |
| Funds from Operations(FFO) | (1.63) | 3.38 | 307.2 % |
| Net Income | (68.05) | (9.12) | 86.6 % |
| No of shares | 66.00 | 66.00 | - |
| Operating EPS (Riyals) | (0.02) | 0.05 | 307.2 % |
| EPS (Riyals) | (1.03) | (0.14) | 86.6 % |
The lower losses were due to a decline in impairment loss on investment properties to SAR 5.9 million in H1 2021, compared to SAR 60.5 million in the previous year.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Total Assets | 738.77 | 783.37 | 6.0 % |
| Total Debt | 181.72 | 232.30 | 27.8 % |
| Net assets attributable to the Unitholders Item | 548.41 | 539.30 | (1.7 %) |
| Market value of net assets | 630.54 | 568.92 | (9.8 %) |
Net asset value (NAV) in H1 2021 stood at SAR 539.3 million, while net book value per unit reached SAR 8.17.
The market value of assets stood at SAR 568.9 million in H1 2021, with market value per unit as fair value at SAR 8.62.
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