Financial Results : Al Rajhi REIT logs SAR 57.2M FFO, SAR 71.2M profit in H1 2025

Al Rajhi REIT logs SAR 57.2M FFO, SAR 71.2M profit in H1 2025

10/08/2025 Argaam Exclusive

View other reports

Al Rajhi REIT Fund reported funds from operations (FFO) of SAR 57.2 million (SAR 0.21 per unit) for H1 2025, down 22% from SAR 73.6 million (SAR 0.27 per unit) a year earlier.

 

Net profit came in at SAR 71.2 million (SAR 0.26 per unit) for the six-month period, compared to SAR 71.6 million (SAR 0.26 per unit) in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Rental Income 116.83 114.31 (2.2 %)
Funds from Operations(FFO) 73.60 57.19 (22.3 %)
Net Income 71.58 71.18 (0.6 %)
No of shares 275.61 275.61 -
Earnings Per Share before unusual items (Riyals) 0.26 0.26 (0.6 %)
Operating EPS (Riyal) 0.27 0.21 (22.3 %)
EPS (Riyal) 0.26 0.26 (0.6 %)

This was attributed to a 2% YoY fall to SAR 114 million in rental income in H1 2025. Additionally, the fund recorded an expected credit loss provision of SAR 14 million in the current period, versus a provision reversal of SAR 1.5 million in H1 2024.

 

This came despite an 8% YoY drop in financing costs to SAR 25 million, a higher reversal of impairment on investment properties of SAR 35 million in H1 2025, compared to SAR 19.6 million a year earlier, and increased realized and unrealized investment gains for the first six months of 2025.



Balance Sheet (Million)

Item 6m 2024 6m 2025 Change‬
Total Assets 3,155.52 3,185.40 0.9 %
Total Debt 896.40 896.40 -
Net assets attributable to the Unitholders Item 2,209.53 2,247.55 1.7 %
Market value of net assets 2,331.58 2,497.37 7.1 %

The fund’s net asset value (NAV) stood at SAR 2.24 billion as of June 30, 2025, with a net book value per unit of SAR 8.15.

 

The market value of assets reached SAR 2.49 billion, with a market value per unit of SAR 9.06.

 

View More Financial Results

 


Financial results (Million)

Period Rental Income Change Funds from Operations(FFO) Change Net Income Change
H1 2018 37.24 - 25.87 - 20.37 -
H2 2018 54.60 - 37.27 - 29.28 -
H1 2019 56.29 51.1 % 37.92 46.6 % 30.05 47.5 %
H2 2019 59.64 9.2 % 34.82 (6.6 %) 26.06 (11.0 %)
H1 2020 84.96 50.9 % 54.13 42.8 % (17.66) (158.8 %)
H2 2020 83.90 40.7 % 50.92 46.2 % 30.11 15.5 %
H1 2021 82.33 (3.1 %) 45.57 (15.8 %) (159.26) (801.9 %)
H2 2021 47.95 (42.8 %) 29.92 (41.3 %) (15.82) (152.5 %)
H1 2022 79.11 (3.9 %) 63.87 40.2 % 67.29 142.3 %
H2 2022 79.05 64.9 % 47.96 60.3 % 46.12 391.5 %
H1 2023 79.11 0.0 % 32.60 (49.0 %) 4.01 (94.0 %)
H2 2023 112.96 42.9 % 77.04 60.6 % 71.54 55.1 %
H1 2024 116.83 47.7 % 73.60 125.8 % 71.58 1686.0 %
H2 2024 120.86 7.0 % 74.05 (3.9 %) 115.67 61.7 %
H1 2025 114.31 (2.2 %) 57.19 (22.3 %) 71.18 (0.6 %)

Balance Sheet (Million)

Period Total Assets Change Total Debt Change Net assets attributable to the Unitholders Item Change Market value of net assets Change
H1 2018 1,687.90 - 399.91 - 1,242.38 - 1,146.94 -
H2 2018 1,740.37 - 456.91 - 1,250.41 - 1,232.64 -
H1 2019 1,724.08 2.1 % 456.91 14.3 % 1,242.51 0.0 % 1,242.96 8.4 %
H2 2019 2,386.20 37.1 % 791.25 73.2 % 1,578.44 26.2 % 1,603.66 30.1 %
H1 2020 2,338.00 35.6 % 791.25 73.2 % 1,526.79 22.9 % 1,580.26 27.1 %
H2 2020 2,322.01 (2.7 %) 791.26 0.0 % 1,511.58 (4.2 %) 1,577.51 (1.6 %)
H1 2021 2,122.45 (9.2 %) 791.26 0.0 % 1,307.00 (14.4 %) 1,333.56 (15.6 %)
H2 2021 2,061.50 (11.2 %) 791.26 0.0 % 1,245.86 (17.6 %) 1,297.21 (17.8 %)
H1 2022 2,191.44 3.3 % 896.40 13.3 % 1,267.83 (3.0 %) 1,344.13 0.8 %
H2 2022 2,186.58 6.1 % 896.40 13.3 % 1,260.54 1.2 % 1,348.87 4.0 %
H1 2023 3,132.85 43.0 % 896.40 0.0 % 1,186.86 (6.4 %) 1,255.19 (6.6 %)
H2 2023 3,136.06 43.4 % 896.40 0.0 % 2,213.74 75.6 % 2,320.83 72.1 %
H1 2024 3,155.52 0.7 % 896.40 0.0 % 2,209.53 86.2 % 2,331.58 85.8 %
H2 2024 3,186.37 1.6 % 896.40 0.0 % 2,250.78 1.7 % 2,405.87 3.7 %
H1 2025 3,185.40 0.9 % 896.40 0.0 % 2,247.55 1.7 % 2,497.37 7.1 %

Unit Data (Riyal)

Compared With The
Period Operating EPS EPS Book Value Market Value
H1 2018 0.21 0.17 10.17 9.39
H2 2018 0.30 0.24 10.23 10.09
H1 2019 0.31 0.25 10.17 10.17
H2 2019 0.22 0.16 9.75 9.91
H1 2020 0.33 (0.11) 9.43 9.76
H2 2020 0.31 0.19 9.34 9.75
H1 2021 0.28 (0.98) 8.08 8.24
H2 2021 0.18 (0.10) 7.70 8.01
H1 2022 0.39 0.42 7.83 8.30
H2 2022 0.30 0.28 7.79 8.33
H1 2023 0.20 0.02 7.33 7.75
H2 2023 0.28 0.26 8.03 8.42
H1 2024 0.27 0.26 8.02 8.46
H2 2024 0.27 0.42 8.17 8.73
H1 2025 0.21 0.26 8.15 9.06


Financial Ratios
Current
Number of Units (Million) 275.61
Net Income/Unit ( Riyal) 0.68
Funds from operations/Unit ( Riyal) 0.48
Par Value ( Riyal) 10.00
Price/book 1.01
Asset Growth (%) 1.0
Revenue Growth (%) 2.3
Net Income Growth (%) 30.6
more

Share Price

Al Rajhi REIT Fund
8.27
(0.02) (0.24 %)

Al Rajhi REIT Fund (Al RAJHI REIT)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.