Saudi Real Estate
| Name | Saudi Real Estate | |
| Sector | Construction and Real Estate - Real Estate developers | |
| Trading | Tadawul | |
| RIC Code | 4020.SE | |
| Location | SAUDI ARABIA |
Profile and Background
Saudi Real Estate Company (Sreco) was founded in 1976 to develop property for lease, rent or sale in Saudi Arabia. It carries out a range of activities, including operation and maintenance of residential and commercial centers in major Saudi cities.
The company is 72.9 per cent owned by government agencies, including the General Organization for Social Insurance (GOSI). It is a shareholder in other companies including the Al-Maqeliya Commercial Centre Company.
Recent projects include the diplomatic quarter residential scheme comprising more than 300 homes. It is reported that Sreco is considering restructuring itself into a holding company. It has developed plans for a major new commercial complex in Al-Khobar in the Eastern Province.
Sreco has been consistently profitable, reflecting the fact that it owns some of the most desirable commercial properties in Saudi Arabia. Earnings reached a peak of more than SR 90 million ($24 million) in 1994, but they fell sharply the following year.
Profits recovered in 1996, before declining by 15 per cent in 1997 to SR 51.9 million ($13.8 million) from SR 60.8 million ($16.2 million) in the previous year. The bottom line was undermined in 1997 by a more than doubling of the cost of sales to SR 63.
4 million ($16.9 million). Sales edged up 3 per cent to SR 121.3 million ($32.3 million) from SR 117.8 million ($31.4 million) in 1996. Total assets contracted by a similar margin to SR 1,351.6 million ($360.
4 million). The price of Sreco shares rose by 9 per cent in 1997. The stock outperformed a bearish market in declining by 19 per cent in 1998 and closed at the end of the year at SR 115 million ($30.7 million).
The company paid a cash dividend for 1997 of 7.5 per cent after paying 7 per cent for 1996.
The company is 72.9 per cent owned by government agencies, including the General Organization for Social Insurance (GOSI). It is a shareholder in other companies including the Al-Maqeliya Commercial Centre Company.
Recent projects include the diplomatic quarter residential scheme comprising more than 300 homes. It is reported that Sreco is considering restructuring itself into a holding company. It has developed plans for a major new commercial complex in Al-Khobar in the Eastern Province.
Sreco has been consistently profitable, reflecting the fact that it owns some of the most desirable commercial properties in Saudi Arabia. Earnings reached a peak of more than SR 90 million ($24 million) in 1994, but they fell sharply the following year.
Profits recovered in 1996, before declining by 15 per cent in 1997 to SR 51.9 million ($13.8 million) from SR 60.8 million ($16.2 million) in the previous year. The bottom line was undermined in 1997 by a more than doubling of the cost of sales to SR 63.
4 million ($16.9 million). Sales edged up 3 per cent to SR 121.3 million ($32.3 million) from SR 117.8 million ($31.4 million) in 1996. Total assets contracted by a similar margin to SR 1,351.6 million ($360.
4 million). The price of Sreco shares rose by 9 per cent in 1997. The stock outperformed a bearish market in declining by 19 per cent in 1998 and closed at the end of the year at SR 115 million ($30.7 million).
The company paid a cash dividend for 1997 of 7.5 per cent after paying 7 per cent for 1996.
Shareholding Groups
| Individuals | N/A |
| Institutions | N/A |
| Floating | N/A |
| Government | 73% |
Stock Performance
Market Information
| Stock | Saudi_Arabia Index | |
| Last Closing | SAR 34 | 3424.18 |
| YTD % |  1.735% |  0% |
| Weekly % | 3.529% | 5.55% |
| Year High | SAR 53.01 | 9083.39 |
| Year Low | SAR 26.01 | 3296.01 |
| 52 Week High | SAR 104.79 | 4532.55 |
| 52 Week Low | SAR 30.26 | 2983.01 |
| BETA | 1.4198 | |
| Outstanding Shares | 120,000,000 | |
| Market Cap | SAR 4,080,000,000 | |
| Market Cap in $ | USD $1,088,000,000 | |
| % of Saudi_Arabia Market | 0.33% | |
| % of Sector | 13.21% | |
| Rank by Cap | 36 |
Key Figures in '000 SAR
| 2004 | 2003 | 2002 | |
| Total Assets | 1,497,943 | 1,456,226 | 1,411,050 |
| Shareholder's Equity | 1,294,983 | 1,249,869 | 1,225,762 |
| NIAT | 143,442 | 121,707 | 62,468 |
| Dividends | N/A | 96,000 | 72,000 |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 2.87% | 3.20% | -1.46% |
| Earning Growth | 17.86% | 94.83% | -31.00% |
| ROaA | 9.71% | 8.49% | 4.39% |
| ROaE | 11.27% | 9.83% | 5.08% |
| No. Of Shares | 12,000,000 | 12,000,000 | 12,000,000 |
| EPS | 11.95 | 10.14 | 5.21 |
| EPS Growth | 17.86% | 94.83% | -31.00% |
| Payout Ratio | N/A | 78.878 | 115.258 |
Valuation Ratios
| Trailing | |
| PE | |
| PB | |
| DVPS | |
| Div Yield | |
| EV | |
| EV/Equity |
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