Riyad REIT has announced its financial headline figures for 2016. Revenue came in at SAR23.67mn (2015: SAR3.4mn), driven by full contribution from assets acquired in 2015 and higher contribution from those acquired in 2016, as well as stablised occupancy rates across the portfolio, according to management. Average occupancy rate was 94% across the portfolio, with a weighted average remaining lease terms of 7.3 years. Operating income came in at SAR21.5mn (2015: SAR2.6mn). Net income came in at SAR9.9mn (2015: SAR3.0mn in net loss). (Tadawul)
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