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- 4330 - RIYAD REIT
- 4331 - ALJAZIRA REIT
- 4332 - JADWA REIT ALHARAMAIN
- 4333 - TALEEM REIT
- 4334 - AL MAATHER REIT
- 4335 - MUSHARAKA REIT
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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
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- 9564 - HORIZON FOOD
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Mulkia Gulf Real Estate REIT Fund’s net loss widened to SAR 11.8 million, or SAR 0.11 per unit, for 2023, compared to losses of SAR 106,000 in 2022.
Funds from operations (FFO) reached SAR 15.1 million last year, down 42% compared to SAR 26 million in 2022.
Financials (M)
Item | 2022 | 2023 | Change |
---|---|---|---|
Rental Income | 95.85 | 113.47 | 18.4 % |
Funds from Operations(FFO) | 25.98 | 15.14 | (41.7 %) |
Net Income | (0.11) | (11.81) | (11,038.3 %) |
No of shares | 68.11 | 103.77 | 52.4 % |
Operating EPS (Riyals) | 0.38 | 0.15 | (61.7 %) |
EPS (Riyals) | 0.00 | (0.11) | (7,210.8 %) |
The REIT reported a 68.4% year-on-year (YoY) rise in financing costs (FCs), an 82.13% increase in provision for credit losses (PCL), and a 27.3% jump in impairment for real estate investments.
In addition, other administrative expenses increased due to higher capital hike costs of SAR 1.47 million.
Meanwhile, total revenues rose 20% YoY to SAR 114.76 million amid lower Zakat expenditure.
Interim Comparasion (M)
Item | H2 2022 | H2 2023 | Change |
---|---|---|---|
Rental Income | 60.50 | 59.44 | (1.7 %) |
Funds from Operations(FFO) | 10.03 | 4.92 | (50.9 %) |
Net Income | 12.95 | 6.18 | (52.3 %) |
No of shares | 68.11 | 103.77 | 52.4 % |
Operating EPS (Riyals) | 0.15 | 0.05 | (67.8 %) |
EPS (Riyals) | 0.19 | 0.06 | (68.7 %) |
Item | H1 2023 | H2 2023 | Change |
---|---|---|---|
Rental Income | 54.03 | 59.44 | 10.0 % |
Funds from Operations(FFO) | 10.22 | 4.92 | (51.8 %) |
Net Income | (17.99) | 6.18 | 134.4 % |
No of shares | 103.77 | 103.77 | - |
Operating EPS (Riyals) | 0.10 | 0.05 | (51.8 %) |
EPS (Riyals) | (0.17) | 0.06 | 134.4 % |
Net asset value (NAV) stood at SAR 790.84 million as of 2023, while net book value per unit reached SAR 7.62.
The market value of assets stood at SAR 861.81 million by the end of 2023, with the market value per unit at SAR 8.31.
Balance Sheet (Million)
Item | 2022 | 2023 | Change |
---|---|---|---|
Total Assets | 1,345.43 | 1,310.58 | (2.6 %) |
Total Debt | 587.98 | 476.97 | (18.9 %) |
Net assets attributable to the Unitholders Item | 600.23 | 790.84 | 31.8 % |
Market value of net assets | 654.40 | 861.81 | 31.7 % |
View other reports
- TASI
-
Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
- 2200 - APC
- 2210 - NAMA CHEMICALS
- 2220 - MAADANIYAH
- 2240 - ZAMIL INDUST
- 2250 - SIIG
- 2290 - YANSAB
- 2300 - SPM
- 2310 - SIPCHEM
- 2330 - ADVANCED
- 2350 - SAUDI KAYAN
- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YC
- 3030 - SAUDI CEMENT
- 3040 - QACCO
- 3050 - SPCC
- 3060 - YCC
- 3080 - EPCCO
- 3090 - TCC
- 3091 - JOUF CEMENT
- 3092 - RIYADH CEMENT
- 2060 - TASNEE
- 3008 - ALKATHIRI
- 3007 - OASIS
- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4143 - TALCO
- 4031 - SGS
- 4040 - SAPTCO
- 4260 - BUDGET SAUDI
- 2190 - SISCO HOLDING
- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - Leejam Sports
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
- 6014 - ALAMAR
- 6015 - AMERICANA
- 4003 - EXTRA
- 4008 - SACO
- 4050 - SASCO
- 4190 - JARIR
- 4240 - CENOMI RETAIL
- 4191 - ABO MOATI
- 4051 - BAAZEEM
- 4192 - ALSAIF GALLERY
- 4001 - A.OTHAIM MARKET
- 4006 - FARM SUPERSTORES
- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
- 4162 - ALMUNAJEM
- 4164 - NAHDI
- 4163 - ALDAWAA
- 2050 - SAVOLA GROUP
- 2100 - WAFRAH
- 2270 - SADAFCO
- 2280 - ALMARAI
- 6001 - HB
- 6010 - NADEC
- 6020 - GACO
- 6040 - TADCO
- 6050 - SFICO
- 6060 - SHARQIYAH DEV
- 6070 - ALJOUF
- 6090 - JAZADCO
- 2281 - TANMIAH
- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 2285 - ARABIAN MILLS
- 2286 - FOURTH MILLING
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 4017 - FAKEEH CARE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSF
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
- 8012 - JAZIRA TAKAFUL
- 8020 - MALATH INSURANCE
- 8030 - MEDGULF
- 8040 - ALLIANZ SF
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- 8060 - WALAA
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- 8200 - SAUDI RE
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- 4335 - MUSHARAKA REIT
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- 4337 - SICO SAUDI REIT
- 4342 - JADWA REIT SAUDI
- 4340 - Al RAJHI REIT
- 4339 - DERAYAH REIT
- 4344 - SEDCO CAPITAL REIT
- 4347 - BONYAN REIT
- 4345 - ALINMA RETAIL REIT
- 4346 - MEFIC REIT
- 4348 - ALKHABEER REIT
- 4349 - ALINMA HOSPITALITY REIT
- 4350 - ALISTITHMAR REIT
- 4020 - ALAKARIA
- 4323 - SUMOU
- 4090 - TAIBA
- 4100 - MCDC
- 4150 - ARDCO
- 4220 - EMAAR EC
- 4230 - RED SEA
- 4250 - JABAL OMAR
- 4300 - DAR ALARKAN
- 4310 - KEC
- 4320 - ALANDALUS
- 4321 - CENOMI CENTERS
- 4322 - RETAL
- NOMU
-
Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9612 - SAMA WATER
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
- 9583 - UNITED MINING
- 9576 - PAPER HOME
- 9588 - RIYADH STEEL
- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
- 9605 - NEFT ALSHARQ
- 9607 - ASG
- 9609 - NAAS PETROL
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9611 - UFG
- 9540 - TADWEEER
- 9545 - ALDAWLIAH
- 9570 - TAM DEVELOPMENT
- 9581 - CLEAN LIFE
- 9593 - PAN GULF
- 9597 - LEAF
- 9608 - ALASHGHAL ALMOYSRA
- 9606 - THARWAH
- 9520 - BURGERIZZR
- 9541 - ACADEMY OF LEARNING
- 9567 - GHIDA ALSULTAN
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA FOR EDUCATION
- 9603 - HORIZON EDUCATIONAL
Share Price
Mulkia Gulf Real Estate REIT (MULKIA REIT)
Current | |
Number of Units (Million) | 103.77 |
Net Income/Unit ( Riyal) | 0.13 |
Funds from operations/Unit ( Riyal) | 0.13 |
P/E (X) (TTM) | 43.58 |
Current Price/FFO (X) | 42.17 |
Par Value ( Riyal) | 10.00 |
Price/book | 0.73 |
Asset Growth (%) | (9.12 ) |
Revenue Growth (%) | (0.02 ) |
Net Income Growth (%) | 361.0 |
Adjusted P/E (Last12) (X) | 43.58 |
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