Mulkia Gulf Real Estate REIT Achieves Net Profit of SR30.5 mln at End of 2021

Mulkia Investment Company announced on Wednesday the availability of the audited annual financial statements for Mulkia Gulf Real Estate REIT Fund for the period ending on 31.12.2021 as following:

Net assets at the end of the period is SR          638,850,619

Total expenses and fees for the year/period is 43,633,917

Net profit/ (loss) for the year/period is 30,528,929

Number of the outstanding units at the end of year/period is 68108652

Net unit value is 9.38

Revenue of the period % is 4.76 %

Additional Information

– Net asset fair value as per real estate valuation at the end of the period is SR674,793,974.

– Net asset value per unit as fair value at the end of the period is SR9.91.

– Total depreciation for the period is SR12,220,502.

– The above expenses and fees for the period do not include the impairment of investment properties with an amount of SR935,559.

– The above expenses and fees for the period do not include the Zakat expense of 2021, which equals SR1,425,499.

– Note that the annual report containing the audited financial statements will be announced according to the regulatory requirements.

(*) Return for the period is calculated by dividing net profit for the period on net asset value at beginning of the period.