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    Real estate investment trusts
Derayah REIT Fund

Derayah REIT Fund

TTADAWUL:4339
5.08
SAR
-0.02
(-0.39%)
611.72MMarket Cap
Derayah REIT Fund
TADAWUL:4339
(Saudi Exchange)

Recent

price

5.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
SAR
- -
1.13
1.13
1.21
1.15
0.96
0.91
0.93
- -
Revenue per Share
- -
0.19
0.14
0.42
0.44
0.37
0.14
0.08
- -
Basic EPS, GAAP
- -
0.76
0.62
0.89
0.79
0.62
0.86
0.51
- -
Free Cash Flow per Basic Share
- -
0.75
0.67
0.74
0.7
0.35
0.28
0.35
- -
Dividend per Share
9.87
9.31
8.79
8.47
8.2
8.23
8.09
7.82
7.68
Book Value per Share
9.44
8.93
8.45
8.16
7.92
7.96
7.84
7.59
7.45
Tangible Book Value per Share
108
108
108
108
108
108
108
108
108
Basic Weighted Avg Shares
- -
121
121
130
123
103
97
100
- -
Sales/Revenue/Turnover
- -
70.95
67.79
53.64
67.44
50.65
58.19
54.84
- -
Operating Margin (%)
- -
25
26
24
23
24
22
22
- -
Depreciation Expense
- -
20
15
46
47
40
15
9
- -
Net Income, GAAP
- -
- -
13.29
3.79
3.83
- -
- -
- -
- -
Effective Tax Rate (%)
- -
16.68
12.29
34.99
38.32
38.91
15.25
8.7
- -
Profit Margin (%)
45
51
70
57
46
53
53
54
49
Working Capital
470
580
748
748
748
608
603
610
610
LT Debt
1,062
1,001
945
910
882
884
870
841
825
Total Equity
- -
4.9
2.54
4.17
5.18
4.45
4.45
3.81
- -
Return on Invested Capital (%)
- -
3.07
0.91
3.97
5.06
5.78
4.16
3.52
- -
Return on Capital (%)
- -
1.96
1.53
4.91
5.27
4.56
1.69
1.02
- -
Return on Common Equity (%)

Capital Structure

SAR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
610
610
610
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
108
108
108
Market Capitalization
599
562
612

Working Capital

SAR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
Total Current Assets
99
95
94
Cash, Cash Equivalents & STI
15
13
16
Accounts Receivable, Net
78
75
69
Inventories
- -
- -
- -
Total Current Liabilities
39
42
45
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

SAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-2.29%
-3.3%
Free Cash Flow
- -
1.7%
-40.36%
Net Income, GAAP
- -
17.98%
-41.19%
Sales/Revenue/Turnover
- -
-3.4%
3.09%
Total Cash Common Dividend
- -
-7.97%
25.78%

Semi-annual Revenue

SAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
97
2025
- -
- -
100
2026
- -
- -
- -

Semi-annual Earnings Per Share

SAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.14
2025
- -
- -
0.08
2026
- -
- -
- -

Semi-annual Dividends Per Share

SAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.28
2025
- -
- -
0.35
2026
- -
- -
- -
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Business
Derayah Financial - Derayah REIT Fund (4339.SR) is a Shariah-compliant closed-ended real estate investment traded fund that generates income for investors through a diversified portfolio of income-generating real estate assets in Saudi Arabia. The fund's current portfolio comprises 24 properties across six cities, including Riyadh, Dammam, Jeddah, Jubail, Khobar, and Al-Ahsa, and nine real estate sectors such as warehouses and logistics, offices, residential, educational facilities, hotels, and commercial buildings; total assets under management stood at SAR 1.53 billion as of December 31, 2024. Managed by Derayah Financial Company, headquartered in Riyadh, Saudi Arabia, the fund adheres to Real Estate Investment Funds Regulations and Real Estate Investment Traded Funds Instructions issued by the Capital Market Authority, distributing quarterly cash dividends equivalent to no less than 90% of net profits to unitholders. The fund targets institutional and retail investors seeking Shariah-compliant real estate exposure within the Kingdom, with properties maintaining high occupancy rates through long-term leases to corporate and individual tenants across sectors like logistics, education, and hospitality. Derayah Financial, the fund manager and a leading independent digital investment platform in Saudi Arabia, oversees operations with a focus on portfolio diversification, asset valuation by independent licensed valuers, and strategic financing arrangements. In recent developments, Derayah REIT announced quarterly cash distributions for Q1 through Q3 2025, alongside the release of semiannual asset evaluation reports and quarterly financial statements for periods ending June 30, 2025, reflecting ongoing operational stability and transparency. The fund manager disclosed a material development in May 2025 with subsequent updates in January 2025, along with routine updates to fund terms and conditions; earlier in 2024, key activities included the sale of a residential building in Dammam, leasing of a hotel tower and educational facility, partial loan repayments, and a legal case against a master tenant. These actions support portfolio optimization and income generation amid Saudi Arabia's evolving real estate market.