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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