Here’s how Saudi REITs performed in H1

Argaam evaluates the financial performance of Tadawul-listed Real Estate Investment Trust (REITs) in the first half of the year.

Riyad REIT's net profit more than trebled year-on-year to SAR 9.5 million in H1-2017, driven by higher leasing revenue.

Jadwa REIT came second with net earnings of SAR 4.3 million for the period from April 16, 2017 to June 30, 2017.

Aljazira Mawten REIT followed with SAR 3.1 million in net profit for the period from February 20, 2017 to June 30, 2017.

Taleem REIT came last with net earnings of SAR 1.3 million in one month.

Al Maather REIT Fund was excluded from the study as it debuted on Tadawul August 22.

The market capitalization of assets exceeded book value for three funds in the same period, except for Aljazira Mawten REIT which saw a 1 percent decline.

Riyad REIT and Jadwa REIT came on top with a 7 percent rise each.

In terms of dividends, Riyad REIT also came first with SAR 0.26 per unit, or 2.6 percent of the fund size.

Jadwa REIT paid a dividend of SAR 0.10 per unit in 75 days, representing 1 percent of its total size.