Alwaha REIT posts SAR 7.9M FFO, SAR 7.1M net profit in H1 2025

11/08/2025 Argaam Exclusive

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Alwaha REIT Fund reported funds from operations (FFO) of SAR 7.9 million, or SAR 0.52 per unit, for the first half of 2025, up 13% from SAR 7 million, or SAR 0.47 per unit, in the same period last year.

 

Net profit for H1 2025 reached SAR 7.1 million, or SAR 0.47 per unit, compared with SAR 6.7 million in the year-earlier period, the fund said in a statement to Tadawul.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Rental Income 9.30 10.01 7.7 %
Funds from Operations(FFO) 7.01 7.90 12.6 %
Net Income 6.65 7.10 6.7 %
No of shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) 0.44 0.47 6.7 %
Operating EPS (Riyal) 0.47 0.53 12.6 %
EPS (Riyal) 0.44 0.47 6.7 %

The profit growth was driven by an 8% year-on-year (YoY) rise in rental income to SAR 10 million and a 7% drop in expenses to SAR 2 million from SAR 2.3 million.

 

This was mainly due to the reversal of expected credit losses amounting to SAR 0.9 million in the six-month period, compared to a provision of SAR 53,000 in the same period last year, in addition to a reduction in certain other expenses. Higher income from Murabaha deposits and general service revenues also supported the results.



Depreciation on investment properties rose 77% to SAR 0.98 million from SAR 0.55 million in H1 2024, while impairment losses on investment properties increased to SAR 74,000 from SAR 18,000 a year earlier.

Balance Sheet (Million)

Item 6m 2024 6m 2025 Change‬
Total Assets 163.11 165.31 1.3 %
Net assets attributable to the Unitholders Item 157.82 159.36 1.0 %
Market value of net assets 182.51 203.23 11.4 %

Net asset value (NAV) stood at SAR 159.36 million in H1 2025, while the net book value per unit reached SAR 10.62.

 

The market value of assets amounted to SAR 203.23 million by the end of H1 2025, with a market value per unit of SAR 13.55.

 

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Share Price

Alwaha REIT Fund
10.80
0.00 0.00 %

Alwaha REIT Fund (ALWAHA REIT)

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Financial Ratios
Current
Number of Units (Million) 19.79
Net Income/Unit ( Riyal) 0.80
Funds from operations/Unit ( Riyal) 0.88
Par Value ( Riyal) 10.00
Price/book 1.02
Asset Growth (%) 1.4
Revenue Growth (%) 7.3
Net Income Growth (%) (4.83 )
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