Riyadh - Mubasher: Riyad REIT Fund reported a net profit of SAR 9.89 million ($2.64 million) in 2016 versus losses of SAR 2.98 million ($796,000) in the year before.
The real estate investment trust fund said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday that achieving profits is attributed to stabilising occupancies of properties acquired in 2015, and the partial operational revenues of properties acquired in 2016, as Riyad REIT acquired three properties: Al Shatea, Alfursan Towers, and Ascott Tahlia in Jeddah.
