Swicorp Wabel REIT posts SAR 15.7 mln FFO, SAR 141 mln net loss in H1 2020
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Swicorp Wabel REIT Fund posted a net loss of SAR 141 million (SAR -1.19 per unit) for the first half of 2020, compared to a profit of SAR 26.4 million for the same period last year, according to a bourse filing by Swicorp, the fund manager, on Monday.
Funds from operations (FFO) reached SAR 15.7 million during the six-month period, compared to SAR 30.2 million in the year-earlier period.
Funds from Operations(FFO)
No of shares
Operating EPS (Riyals)
These losses were mainly attributed to lower rental income and impairment loss on investment properties worth SAR 143.1 million.
Net asset value (NAV) stood at SAR 957.76 million, while the NAV per unit reached SAR 8.12 during the six months.
The market value of assets reached SAR 959.45 million in H1 2020, while the per unit market value stood at SAR 8.13.