Al Maather REIT posted a net profit of SAR 13.39 million (SAR 0.22/unit) in the second half of 2019, compared to losses of SAR 9.29 million in the same period a year ago, according to a bourse filing.
Net operating income rose by 2% to stand at SAR 19.99 million in H2 2019, the statement added.
Rental revenue (SAR mln)
OPEX (SAR mln)
Net operating income (SAR mln)
Operating profit per unit (SAR/unit)
Net profit (SAR mln)
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As Dec. 31, 2019, Net Asset Value (NAV) stood at SAR 601.06 million, while NAV per unit hit SAR 9.79. The fund’s gross assets totaled SAR 650.43 million.
Depreciation and usufruct contracts amortization amounted to SAR 6.61 million for the same period.
Included a decrease in real estate investments value by SAR 24.5 million.
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