Al Jazira REIT annualised earnings at SAR7.3mn in 2017; P/NAV at 1.67x
Al Jazira Mawten REIT (Al Jazira REIT) has announced its financial results for the 10-month period ending on 31 Dec 2017 (the fund commenced operations on 20 Feb), where rental income came in at SAR9.0mn and earnings totalled SAR6.3mn. This implies an annualised income of SAR10.5mn and earnings of SAR7.3mn. The fund’s NAV per unit stood at SAR9.81, as of Dec 2017, implying P/NAV of 1.67x, as of the last closing price.
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