Musharaka REIT Fund reported SAR 25.65 million rental income in Q3 2020, compared to SAR 27.96 million a year earlier, the fund’s quarterly statement showed.

 

Borrowing amounts increased by 90% year-on-year (YoY) to SAR 304 million in the three-month period.

 

Income Statement (SAR mln)

Item

Q3 2019

Q3 2020

Variation (%)

Rental Income

28.0

25.7

(8.3%)

Borrowing amounts

160.4

304.0

(89.5%)

Borrowing to NAV*

12.0 %

23.0 %

(11%)

Rental income on unit price

3.9 %

3.0 %

(0.9%)

Fund’s costs to total asset value*

1.0 %

0.7 %

+0.3%

Expense ratio, percentage of total fees and charges

0.3 %

0.3 %

--

* Total Asset Value based on last published financial statement June 2020

** Fixed fees, including management fees

 

On Sept. 20, 2020, the fund manager announced that it has completed the legal and regulatory procedures concerning acquiring of The Box self-Storage Wearhouse property in the Emirate of Dubai in the UAE.

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