Introduction : Mulkia Investment Company Announces the Availability of the Annual Financial Statements for Mulkia Gulf Real Estate REIT Fund for the period ending on 31/12/2020 as following:
Net Assets at the End of the Period : 641,694,929 Saudi riyals
Total Expenses and Fees for the Year/Period : 48,516,816 Saudi riyals
Net Profit/(Loss) for the Year/Period : 18,238,477 Saudi riyals
Number of the Outstanding Units at the End of Year/Period : 68108652
Net Unit Value : 9.42
Revenue of the period % : 3.18 %
Hyperlink to Financial Statements : link
Additional Information :
– Net Asset fair value as per Real Estate valuation at the end of the period is 663,381,574 Saudi riyals.
– Net Asset Value per unit as fair value at the end of the period is 9.74 Saudi riyals.
– Total Depreciation for the period is 11,762,579 Saudi riyals.
– The above expenses and fees for the period don’t include the impairment of investment properties with an amount of 3,269,111 Saudi riyals.
(*) Return for the period is calculated by dividing net profit for the period on net asset value at beginning of the period.
Impact of the precautionary measures to contain the Coronavirus “Covid 19” on Fund’s activities:
Due to the precautionary measures of COVID 19 epidemic and the tenants’ requests, the fund manager has given discounts in 2020 to the tenants whose activities were affected during the suspension period, with settlements equaling an amount of 7,367,287 riyals which represents 9.6% of the total revenue of the investment properties for the year 2020.
(All numbers in the announcement are in Saudi Riyals)