Financial Results : Riyad REIT FFO at SAR 12M, net loss at SAR 13.5M in 2025

Riyad REIT FFO at SAR 12M, net loss at SAR 13.5M in 2025

31/03/2026 Argaam Exclusive

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Riyad REIT Fund reported funds from operations (FFO) of SAR 12 million (SAR 0.07 per unit) in 2025, compared to SAR 21.9 million (SAR 0.13 per unit) in 2024.

 

Net loss reached SAR 13.5 million (SAR -0.08 per unit) last year, compared to SAR 187.3 million (SAR 1.09 per unit) in 2024.



Financials (M)

Item 2024 2025 Change‬
Rental Income 264.47 275.52 4.2 %
Funds from Operations(FFO) 21.84 12.01 (45.0 %)
Net Income (187.28) (13.46) 92.8 %
No of shares 171.70 171.70 0.0 %
Earnings Per Share before unusual items (Riyals) (0.99) (0.15) 84.7 %
Operating EPS (Riyal) 0.13 0.07 (45.0 %)
EPS (Riyal) (1.09) (0.08) 92.8 %

This is mainly attributed to a decline in unrealized losses from investments at fair value to SAR 8.1 million in 2025, compared to SAR 125.3 million a year earlier.

 

Moreover, the fund recorded an impairment reversal for real estate investments amounting to SAR 15.5 million, compared to SAR 50.2 million investments impairment a year earlier.

 

Rental and operating revenues also rose during the year, driven by higher rental income from real estate investments, despite a decline in hotel operating revenues.



Interim Comparasion (M)

Compared With The
Item H2 2024 H2 2025 Change‬
Rental Income 131.95 154.32 16.9 %
Funds from Operations(FFO) 16.42 7.90 (51.9 %)
Net Income (193.24) 12.42 106.4 %
No of shares 171.70 171.70 0.0 %
Operating EPS (Riyal) 0.10 0.05 (51.9 %)
EPS (Riyal) (1.13) 0.07 106.4 %

Balance Sheet (Million)

Item 2024 2025 Change‬
Total Assets 2,772.88 2,719.22 (1.9 %)
Total Debt 1,393.67 1,376.22 (1.3 %)
Net assets attributable to the Unitholders Item 1,228.35 1,159.98 (5.6 %)
Market value of net assets 1,746.20 1,715.98 (1.7 %)

This was offset by an increase in property management expenses to SAR 12.4 million, compared to SAR 11.8 million in 2024, as well as a rise in expected credit loss provisions to SAR 31.1 million, from SAR 4.5 million a year earlier.

 

The net book value per unit reached SAR 6.76, while the market value of assets per unit reached SAR 10.

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