Financial Results : SICO Saudi REIT logs SAR 1.4M FFO, earns SAR 516,000 in H1 2025

SICO Saudi REIT logs SAR 1.4M FFO, earns SAR 516,000 in H1 2025

11/08/2025 Argaam Exclusive

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SICO Saudi REIT Fund turned to SAR 516,000 (SAR 0.01 per unit) in the first six months of 2025, compared to a net loss of SAR 102.1 million (SAR -1.78 per unit) in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Rental Income 10.05 10.26 2.1 %
Funds from Operations(FFO) 1.99 1.36 (31.6 %)
Net Income (102.11) 0.52 100.5 %
No of shares 57.24 57.24 -
Earnings Per Share before unusual items (Riyals) (1.78) 0.01 100.5 %
Operating EPS (Riyal) 0.03 0.02 (31.6 %)
EPS (Riyal) (1.78) 0.01 100.5 %

Its funds from operations (FFO) came in at nearly SAR 1.4 million (SAR 0.02 per unit) for H1 2025, down from SAR 2 million (SAR 0.03 per unit) a year earlier.

 

This was driven by a SAR 3.8 million reversal of impairment on investment properties in H1 2025, versus allocating a SAR 99.4 million provision a year earlier.

 

During the same period, the fund logged higher rental income and lower financing costs, despite an increase in other expenses during the current period.



Balance Sheet (Million)

Item 6m 2024 6m 2025 Change‬
Total Assets 431.26 405.92 (5.9 %)
Total Debt 149.89 149.89 -
Net assets attributable to the Unitholders Item 255.85 243.55 (4.8 %)
Market value of net assets 329.74 311.54 (5.5 %)

SICO Saudi REIT’s net book value per unit stood at SAR 4.25 as of June 30, 2025, while the market value of assets per unit reached SAR 5.44.

 

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