ANNOUNCEMENT BY SAUDI ECONOMIC AND DEVELOPMENT SECURITIES COMPANY (SEDCO CAPITAL) THAT SEDCO CAPITAL REIT FUND’S ANNUAL REPORT, INCLUDING THE ANNUAL AUDITED FINANCIAL STATEMENTS, FOR THE PERIOD ENDED ON 31/12/2021 ARE AVAILABLE TO THE PUBLIC
Saudi Economic and Development Securities Company (SEDCO Capital) announces that SEDCO Capital REIT Fund’s Annual Report, Including the Annual Audited Financial Statements, for the year ended on 31/12/2021 are Available to the Public
Net assets on the end of the period SAR 1,039,710,604
Total expenses and fees for the period SAR 108,348,051
Net (loss) for the period SAR (35,437,775)
Number of outstanding units in the end of period 117,500,000 units
Net unit value SAR 9.0409 (using fair value)
Return for the period 6.30%
Additional Information
The reason for recognizing a net loss for the year ended on 31/12/2021 is mainly due to capitalizing the Real Estate Transaction Tax in addition to the other acquisition costs, which led to recording an impairment loss of the 8 new properties acquired by the Fund recently in connection with increasing the total asset value of the Fund. It is noteworthy that the impairment represents an unrealized loss in the value of the asset.
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