Al Mashaar REIT Fund reported a net loss of SAR 55 million for 2020, against a net profit of SAR 24.44 million a year earlier, fund manager Muscat Capital said in a bourse filing today, March 31, 2021.
Funds from operations (FFO) stood at SAR 5.3 million in 2020, compared to SAR 31.1 million a year earlier.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 38.64 | 7.81 | (79.8 %) |
| Funds from Operations(FFO) | 31.05 | 5.31 | (82.9 %) |
| Net Income | 24.44 | (55.04) | (325.2 %) |
| No of shares | 57.24 | 57.24 | - |
| Operating EPS (Riyals) | 0.54 | 0.09 | (82.9 %) |
| EPS (Riyals) | 0.43 | (0.96) | (325.2 %) |
The company attributed the loss mainly to the provision for impairment in real estate investment at SAR 53.4 million.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 19.48 | - | - |
| Funds from Operations(FFO) | 15.62 | (0.64) | (104.1 %) |
| Net Income | 12.36 | (42.16) | (441.1 %) |
| No of shares | 57.24 | 57.24 | - |
| Operating EPS (Riyals) | 0.27 | (0.01) | (104.1 %) |
| EPS (Riyals) | 0.22 | (0.74) | (441.1 %) |
| Item | 2020 | 2020 | Change |
|---|---|---|---|
| Rental Income | 19.21 | - | - |
| Funds from Operations(FFO) | 5.95 | (0.64) | (110.8 %) |
| Net Income | (12.88) | (42.16) | (227.5 %) |
| No of shares | 57.24 | 57.24 | - |
| Operating EPS (Riyals) | 0.10 | (0.01) | (110.8 %) |
| EPS (Riyals) | (0.22) | (0.74) | (227.5 %) |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Total Assets | 578.80 | 501.65 | (13.3 %) |
| Total Debt | - | - | - |
| Net assets attributable to the Unitholders Item | 576.83 | 501.18 | (13.1 %) |
| Market value of net assets | 590.66 | 501.18 | (15.1 %) |
Net asset value (NAV) stood at SAR 501.2 million, while the NAV per unit reached SAR 8.8 in 2020.
The market value of assets amounted to SAR 501.2 million in 2020.
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