Taleem REIT Fund posted a net profit of SAR 39.5 million (SAR 0.77 per unit) for 2021, an increase of 11%, compared to SAR 35.5 million a year earlier.
Funds from operations (FFO) amounted to SAR 43.2 million in 2021, a rise of 2%, compared with SAR 42.5 million in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 48.71 | 50.63 | 4.0 % |
| Funds from Operations(FFO) | 42.54 | 43.24 | 1.6 % |
| Net Income | 35.50 | 39.46 | 11.1 % |
| No of shares | 51.00 | 51.00 | - |
| Operating EPS (Riyals) | 0.83 | 0.85 | 1.6 % |
| EPS (Riyals) | 0.70 | 0.77 | 11.1 % |
The profit was attributed to a 4% rise in lease revenues, as well as achieving gains from reversing impairment provision for real estate investments, at a value of SAR 2.2 million, compared to registering SAR 2.2 million impairment provisions for real estate investments in the year-ago period.
This came despite the increase in financing costs by about SAR 1 million.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 25.97 | 25.75 | (0.8 %) |
| Funds from Operations(FFO) | 22.22 | 22.01 | (1.0 %) |
| Net Income | 20.27 | 22.75 | 12.2 % |
| No of shares | 51.00 | 51.00 | - |
| Operating EPS (Riyals) | 0.44 | 0.43 | (1.0 %) |
| EPS (Riyals) | 0.40 | 0.45 | 12.2 % |
| Item | 2021 | 2021 | Change |
|---|---|---|---|
| Rental Income | 24.89 | 25.75 | 3.4 % |
| Funds from Operations(FFO) | 21.24 | 22.01 | 3.6 % |
| Net Income | 16.71 | 22.75 | 36.1 % |
| No of shares | 51.00 | 51.00 | - |
| Operating EPS (Riyals) | 0.42 | 0.43 | 3.6 % |
| EPS (Riyals) | 0.33 | 0.45 | 36.1 % |
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Total Assets | 634.04 | 646.97 | 2.0 % |
| Total Debt | 94.32 | 94.30 | 0.0 % |
| Net assets attributable to the Unitholders Item | 533.71 | 546.65 | 2.4 % |
| Market value of net assets | 544.18 | 561.02 | 3.1 % |
Net asset value (NAV) in 2021 stood at SAR 546.7 million, while net book value per unit reached SAR 10.72.
The full-year market value of assets stood at SAR 561 million, with market value per unit at SAR 11.
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