Search Site

Trends banner

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Riyad Capital okays 2.5% cash dividend

A view of the Riyadh skyline.
  • The distribution represents 2.19 percent of net asset value (NAV) as of June 30, 2023.
  • Riyad REIT is a closed-ended Shariah-compliant real estate investment traded fund.

Riyadh, Saudi Arabia — Riyad Capital said Wednesday that it will distribute 2.5 percent cash dividend, or SAR 0.25 per unit, to Riyad REIT Fund’s unitholders for H1 2023. 

The distribution represents 2.19 percent of net asset value (NAV) as of June 30, 2023.

Riyad REIT is a closed-ended Shariah-compliant real estate investment traded fund.

Riyad REIT Fund reported a net profit of SAR 34.9 million (SAR 0.20 per unit) in H1 2023, down 43 percent from SAR 61.1 million a year earlier. 

Funds from operations (FFO) dropped 34 percent to SAR 50.6 million in H1 2023, compared to SAR 76.6 million in the year before. 

The lower profit was attributed to a rise in the cost of finance as well as an increase in other operating expenses.  

Meanwhile, rental income increased to SAR 119.7 million in the current period, from SAR 99.9 million in the same period last year. However, this was offset by a decrease in profit achieved from investments at fair value.