Financial Results : Alwaha REIT posts SAR 15.7M FFO, SAR 13.8M net profit in 2025

Alwaha REIT posts SAR 15.7M FFO, SAR 13.8M net profit in 2025

15/03/2026 Argaam Exclusive

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Alwaha REIT Fund reported funds from operations (FFO) of SAR 15.7 million, or SAR 0.79 per unit, in 2025, up 28% from SAR 12.3 million, or SAR 0.82 per unit, last year.



Financials (M)

Item 2024 2025 Change‬
Rental Income 18.79 22.13 17.8 %
Funds from Operations(FFO) 12.27 15.72 28.1 %
Net Income 11.60 13.77 18.7 %
No of shares 15.00 19.79 31.9 %
Earnings Per Share before unusual items (Riyals) 0.77 0.70 (10.0 %)
Operating EPS (Riyal) 0.82 0.79 (2.9 %)
EPS (Riyal) 0.77 0.70 (10.0 %)

Net profit for 2025 reached SAR 13.8 million, or SAR 0.70 per unit, compared with SAR 11.6 million in the year before.

 

The increased profits were mainly driven by higher revenues, including a 17.8% rise in operating rental income to SAR 22.1 million. This is besides a jump in Murabaha deposit returns to SAR 373,000 in 2025, compared with SAR 259,000 in 2024.

 

The growth was further supported by a reversal of credit loss provisions of SAR 792,000 in 2025, compared with the allocation of a provision of SAR 1.9 million in 2024, as well as a decline in rental collection fees.

 

Net asset value (NAV) stood at SAR 207 million in 2025, while the net book value per unit reached SAR 10.46.

 

The market value of assets amounted to SAR 250.86 million by the end of 2025, with a market value per unit of SAR 12.68.



Interim Comparasion (M)

Compared With The
Item H2 2024 H2 2025 Change‬
Rental Income 9.49 12.12 27.6 %
Funds from Operations(FFO) 5.26 7.82 48.7 %
Net Income 4.95 6.67 34.9 %
No of shares 15.00 19.79 31.9 %
Operating EPS (Riyal) 0.35 0.40 12.7 %
EPS (Riyal) 0.33 0.34 2.2 %

Balance Sheet (Million)

Item 2024 2025 Change‬
Total Assets 162.72 213.88 31.4 %
Net assets attributable to the Unitholders Item 157.51 207.01 31.4 %
Market value of net assets 191.42 250.86 31.1 %

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