Al Rajhi REIT posts H1 net profit of SAR 71.6 mln

Al Rajhi Capital announced that Al Rajhi REIT Fund recorded a net profit of SAR 71.57 million for the first half of 2024. The fund’s net assets amounted to SAR 2.2 billion, while total expenses and fees were SAR 67 million.

According to a statement on Tadawul, the number of outstanding units at the end of the period was 275.6 million, with a net unit value of SAR 8.46. The return for the period was 2.65%.

Al Rajhi Capital noted that the return for the period, based on the nominal value, was calculated as the dividend distribution ratio from January 1 to June 30, 2024, totaling SAR 73.03 million in dividends. Additionally, the company reversed an impairment provision on real estate assets amounting to SAR 19.67 million.