Mulkia Investment Company announces the availability of the annual report of the Mulkia Fund – Al Ajlan Riviera, which includes the audited annual financial statements for the year ended 31/12/2022, and the following is a summary of the annual financial results for the fiscal year ending on 12/31/2022, net assets at the end of the period 44,667,339 SAR, Total expenses and fees for the year/period 6,793,036 SAR, net (loss) for the year/period (6,793,036) Saudi riyals, number of existing units at the end of the year/period 5,200,000 units, net unit value 8.6 SAR, return for the period (-13.20%).
- Net asset value using the fair value method based on real estate valuation at the end of the period: 64,507,083 SAR.
- Net asset value per unit using the fair value method at the end of the period: 12.42 SAR.
- Percentage of net profit using the fair value method: 20%.
- The net loss of the year is mainly due to recognizing a VAT allowance of 3,864,076 SAR, marketing fees of 1,750,000 SAR and other expenses, bearing in mind that the value-added tax is a refundable expense, and the refund is under process currently. We also confirm that the development process has been completed and the reservations and Sales are going at a good pace.
To view the report, please visit the link below or open the attached file: https://www.mulkia.com.sa/wp-content/uploads/2023/03/التقرير-السنوي-لصندوق-العجلان-ريفييرا-2022-م-.pdf