Al Mashaar REIT reported net loss of SAR 6 mln (SAR 0.10/unit) for H1 2021, compared to SAR 12.9 million a year earlier, Muscat Capital, the fund manager, said in a bourse statement today, Aug. 19, 2021.
Funds from operations (FFO) reached SAR 4.7 million during the six-month period, a drop of 21%, compared to SAR 6 million in H1 2020.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Rental Income | 19.21 | 6.77 | (64.7 %) |
| Funds from Operations(FFO) | 5.95 | 4.72 | (20.6 %) |
| Net Income | (12.88) | (5.98) | 53.6 % |
| No of shares | 57.24 | 57.24 | - |
| Operating EPS (Riyals) | 0.10 | 0.08 | (20.6 %) |
| EPS (Riyals) | (0.22) | (0.10) | 53.6 % |
The profit drop was driven by lower expenses and asset impairment.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Total Assets | 549.72 | 549.72 | - |
| Total Debt | - | - | - |
| Net assets attributable to the Unitholders Item | 549.07 | 549.07 | - |
| Market value of net assets | 549.07 | 549.07 | - |
Net asset value (NAV) stood at SAR 495.20 million, while the NAV per unit reached SAR 8.65 during the six-month period.
The market value of assets reached SAR 495.20 million, with per unit market value stood at SAR 8.65.
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