Al Rajhi REIT Fund’s net loss widened to SAR 159.3 million (SAR 0.98/unit) for the first half of 2021, compared to SAR 17.7 million in the year-earlier period, Al Rajhi Capital, the fund manager, said in a bourse statement today, Aug. 18.
Funds from operations (FFO) stood at SAR 45.6 million in H1 2021, compared to SAR 54.1 million in the year-earlier period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Rental Income | 84.96 | 82.33 | (3.1 %) |
| Funds from Operations(FFO) | 54.13 | 45.57 | (15.8 %) |
| Net Income | (17.66) | (159.26) | (801.9 %) |
| No of shares | 161.86 | 161.86 | - |
| Operating EPS (Riyals) | 0.33 | 0.28 | (15.8 %) |
| EPS (Riyals) | (0.11) | (0.98) | (801.9 %) |
Net asset value (NAV) in H1 2021 stood at SAR 1.307 billion, while net book value per unit reached SAR 8.08.
The market value of assets stood at SAR 1.333 billion in H1 2021, with market value per unit as fair value at SAR 8.24.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Total Assets | 2,338.00 | 2,122.45 | (9.2 %) |
| Total Debt | 791.25 | 791.26 | 0.0 % |
| Net assets attributable to the Unitholders Item | 1,526.79 | 1,307.00 | (14.4 %) |
| Market value of net assets | 1,580.26 | 1,333.56 | (15.6 %) |
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