Riyadh – Mubasher: Al Ma’athar REIT reported an operating profit of SAR 21.41 million during the first half of 2019.
Net asset value (NAV) amounted to SAR 587.7 million by the end of June, according to a bourse filing on Thursday.
The net book value of the fund's assets hit SAR 9.58 per unit during the first six months of 2019.
Moreover, total direct expenses stood at SAR 4.2 million in H1-19, while depreciation and usufruct contracts amortisation amounted to SAR 7.04 million.
In May, Al Ma’athar REIT signed a deal to acquire Towlan Hotel Suites in the Saudi city of Al Khobar for SAR 22 million.
