Al Rajhi REIT reports SAR 45.6 mln FFO, net loss at SAR 159.3 mln in H1 2021

18/08/2021 Argaam Exclusive

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Al Rajhi REIT Fund’s net loss widened to SAR 159.3 million (SAR 0.98/unit) for the first half of 2021, compared to SAR 17.7 million in the year-earlier period, Al Rajhi Capital, the fund manager, said in a bourse statement today, Aug. 18.

Funds from operations (FFO) stood at SAR 45.6 million in H1 2021, compared to SAR 54.1 million in the year-earlier period.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Rental Income	84.96	82.33	(3.1 %)
Funds from Operations(FFO)	54.13	45.57	(15.8 %)
Net Income	(17.66)	(159.26)	(801.9 %)
No of shares	161.86	161.86	-
Operating EPS (Riyals)	0.33	0.28	(15.8 %)
EPS (Riyals)	(0.11)	(0.98)	(801.9 %)

Net asset value (NAV) in H1 2021 stood at SAR 1.307 billion, while net book value per unit reached SAR 8.08.

The market value of assets stood at SAR 1.333 billion in H1 2021, with market value per unit as fair value at SAR 8.24.

Balance Sheet (Million)

Item	6m 2020	6m 2021	Change‬
Total Assets	2,338.00	2,122.45	(9.2 %)
Total Debt	791.25	791.26	0.0 %
Net assets attributable to the Unitholders Item	1,526.79	1,307.00	(14.4 %)
Market value of net assets	1,580.26	1,333.56	(15.6 %)

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