Riyad REIT posts SAR 24 mln profit in H1

Riyad REIT reported a net profit of SAR 24 million for H1 2018, fund manager Riyad Capital said in a bourse statement on Wednesday.

The first-half revenue stood at SAR 34 million, while expenses totaled SAR 4.6 million.

Net asset value (NAV) – based on fair value – reached SAR 1.7 billion, or SAR 9.80 per unit, with the number of total units amounting to 171.7 million units.

The yield for the period was 1.7 percent.

Funds from operations amounted to SAR 29.3 million.