Alkhabeer REIT Fund incurred a net loss of SAR 33.8 million in 2021, against a net profit of SAR 1.1 million a year earlier.
Funds from operations (FFO) amounted to SAR 47.3 million in 2021, a rise of 78.4% from SAR 26.5 million in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 88.23 | 117.78 | 33.5 % |
| Funds from Operations(FFO) | 26.49 | 47.25 | 78.4 % |
| Net Income | 1.13 | (33.83) | (3093.9 %) |
| No of shares | 102.97 | 141.01 | 36.9 % |
| Operating EPS (Riyals) | 0.26 | 0.34 | 30.3 % |
| EPS (Riyals) | 0.01 | (0.24) | (2286.3 %) |
The losses came due to a SAR 41 million impairment of real estate investments in 2021, despite a 33.5% year-on-year (YoY) in leasing revenue.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 51.32 | 63.13 | 23.0 % |
| Funds from Operations(FFO) | 0.63 | 16.20 | 2483.7 % |
| Net Income | (28.41) | (16.37) | 42.4 % |
| No of shares | 102.97 | 141.01 | 36.9 % |
| Operating EPS (Riyals) | 0.01 | 0.11 | 1786.8 % |
| EPS (Riyals) | (0.28) | (0.12) | 57.9 % |
| Item | 2021 | 2021 | Change |
|---|---|---|---|
| Rental Income | 54.65 | 63.13 | 15.5 % |
| Funds from Operations(FFO) | 31.05 | 16.20 | (47.8 %) |
| Net Income | (17.46) | (16.37) | 6.2 % |
| No of shares | 102.97 | 141.01 | 36.9 % |
| Operating EPS (Riyals) | 0.30 | 0.11 | (61.9 %) |
| EPS (Riyals) | (0.17) | (0.12) | 31.5 % |
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Total Assets | 1,678.20 | 1,933.64 | 15.2 % |
| Total Debt | 763.16 | 753.88 | (1.2 %) |
| Net assets attributable to the Unitholders Item | 856.15 | 1,096.83 | 28.1 % |
| Market value of net assets | 896.80 | 1,177.20 | 31.3 % |
Net asset value (NAV) stood at SAR 1.096 billion in 2021, while net book value per unit reached SAR 7.78.
The full-year market value of assets stood at SAR 1.177 billion, with market value per unit at SAR 8.35.
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