Financial Results : Derayah REIT logs SAR 30.5M FFO, SAR 8.7M net profit in 2025

Derayah REIT logs SAR 30.5M FFO, SAR 8.7M net profit in 2025

31/03/2026 Argaam Exclusive

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Derayah REIT Fund recorded funds from operations (FFO) of SAR 30.49 million (SAR 0.28 per unit) in 2025, up 5% from SAR 28.97 million (SAR 0.27 per unit) last year.

 

Meanwhile, the fund’s net income declined to SAR 8.7 million (SAR 0.08 per unit) by the end of 2025, down 41% compared with SAR 14.84 million (SAR 0.14 per unit) for the corresponding period in 2024.



Financials (M)

Item 2024 2025 Change‬
Rental Income 97.30 100.31 3.1 %
Funds from Operations(FFO) 28.97 30.49 5.2 %
Net Income 14.84 8.73 (41.2 %)
No of shares 107.51 107.51 -
Earnings Per Share before unusual items (Riyals) 0.14 0.08 (41.2 %)
Operating EPS (Riyal) 0.27 0.28 5.2 %
EPS (Riyal) 0.14 0.08 (41.2 %)

The decline in profits was primarily due to a provision for the impairment of investment properties recorded at SAR 812,000 in 2025, compared to a provision reversal last year, which had resulted from a SAR 7.6 million decline in the value of investment properties.

 

The provision for expected credit losses, moreover, increased in 2025 to SAR 8.8 million, compared with SAR 5.8 million in the year before.

 

Other expenses also rose during the same year.



Interim Comparasion (M)

Compared With The
Item H2 2024 H2 2025 Change‬
Rental Income 47.76 49.38 3.4 %
Funds from Operations(FFO) 13.96 13.44 (3.7 %)
Net Income 2.82 1.77 (37.3 %)
No of shares 107.51 107.51 -
Operating EPS (Riyal) 0.13 0.13 (3.7 %)
EPS (Riyal) 0.03 0.02 (37.3 %)

Balance Sheet (Million)

Item 2024 2025 Change‬
Total Assets 1,526.65 1,492.39 (2.2 %)
Total Debt 602.88 610.00 1.2 %
Net assets attributable to the Unitholders Item 869.57 840.88 (3.3 %)
Market value of net assets 1,017.96 1,037.82 2.0 %

The net book value of assets per unit stood at SAR 7.82, while the market value of assets per unit reached SAR 9.65 by December 2025-end.

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