AlMaather REIT posts SAR 11 mln net profit for FY17

Al Maather REIT reported a net profit of SAR 10.55 million for the period from July 9, 2017 to Dec. 31, 2017, fund manager Osool & Bakheet Investment Co. said in a statement to Tadawul on Sunday.  

The fund’s net asset value stood at SAR 624.3 million.

Total revenue for the period amounted to SAR 20.5 million, with an annualized return of 8.66 percent, compared to an expected annual total return of 8.51 percent, on improved leasing returns.  

Meanwhile, total expenses and fees reached SAR 9.94 million for the same period, the statement added.

The fund’s number of units stood at 61.37 million at year-end.