Alwaha REIT posts SAR 8 mln FFO, SAR 7.6 mln net profit in H1 2023

14/08/2023 Argaam Exclusive

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Alwaha REIT Fund reported a net profit of SAR 7.6 million (SAR 0.51 per unit) for the period from Nov. 30, 2022, until June 30, 2023, Wasatah Capital, the fund manager, said in a statement to Tadawul.

Funds from operations (FFO) reached SAR 7.6 million during the same period.

Financials (M)

Item	6m 2022	6m 2023	Change‬

During the current period, the fund reported revenues of SAR 10.6 million, management fees of SAR 919,000, in addition to recording depreciation on investment properties worth 648,000.

Balance Sheet (Million)

Item	6m 2022	6m 2023	Change‬
Total Assets	-	162.92	-
Total Debt	-	-	-
Net assets attributable to the Unitholders Item	-	157.61	-
Market value of net assets	-	173.19	-

Net asset value (NAV) stood at SAR 157.61 million as of June 30, 2023, while net book value per unit reached SAR 10.51.

The market value of assets stood at SAR 173.18 million as of June 30, 2023, with a market value per unit at SAR 11.55.

On Aug. 22, 2022, the Capital Market Authority (CMA) approved setting up the fund. Alwaha REIT units were listed on Oct. 13, 2022, while it officially started operations on Nov. 30, 2022.

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