Al Rajhi REIT logs SAR 141.2M FFO, SAR 147.4M profit in 2025

31/03/2026 Argaam Exclusive

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Al Rajhi REIT Fund reported funds from operations (FFO) of SAR 141.2 million (SAR 0.51 per unit) for 2025, down 4% from SAR 147.7 million (SAR 0.54 per unit) a year earlier.

Net profit fell to SAR 147.4 million (SAR 0.53 per unit) for the 12-month period, compared to SAR 187.2 million (SAR 0.68 per unit) in 2024.

Financials (M)

Item	2024	2025	Change‬
Rental Income	237.70	231.07	(2.8 %)
Funds from Operations(FFO)	147.66	141.16	(4.4 %)
Net Income	187.25	147.39	(21.3 %)
No of shares	275.61	275.61	-
Earnings Per Share before unusual items (Riyals)	0.62	0.53	(13.1 %)
Operating EPS (Riyal)	0.54	0.51	(4.4 %)
EPS (Riyal)	0.68	0.53	(21.3 %)

The profit decline is due to recording SAR 17.7 million profit from the sale of the “Al Anwar – Riyadh” property in 2024.

Additionally, the fund’s rental revenue from investment properties declined by 3% YoY to SAR 231.1 million. Credit loss impairment also roe to SAR 2.2 million, from SAR 446,000 a year earlier.

Interim Comparasion (M)

Compared With The

Item	H2 2024	H2 2025	Change‬
Rental Income	120.86	116.76	(3.4 %)
Funds from Operations(FFO)	74.05	83.96	13.4 %
Net Income	115.67	76.21	(34.1 %)
No of shares	275.61	275.61	-
Operating EPS (Riyal)	0.27	0.30	13.4 %
EPS (Riyal)	0.42	0.28	(34.1 %)

Item	H1 2025	H2 2025	Change‬
Rental Income	114.31	116.76	2.1 %
Funds from Operations(FFO)	57.19	83.96	46.8 %
Net Income	71.18	76.21	7.1 %
No of shares	275.61	275.61	0.0 %
Operating EPS (Riyal)	0.21	0.30	46.8 %
EPS (Riyal)	0.26	0.28	7.1 %

Balance Sheet (Million)

Item	2024	2025	Change‬
Total Assets	3,186.37	3,185.83	0.0 %
Total Debt	896.40	896.40	-
Net assets attributable to the Unitholders Item	2,250.78	2,254.85	0.2 %
Market value of net assets	2,405.87	2,582.56	7.3 %

This came despite the rise in realized profit from investments at fair value and the decline in financing costs.

The fund recorded a net book value per unit of SAR 8.2, while the market value of assets reached SAR 9.4 per unit.

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