Mixta Real Estate Plc. (‘Mixta Nigeria’) formerly ARM Properties Plc. is a real estate development company with a strong track record and diverse real estate portfolio, with operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry.
In a recent publication, Agusto & Co. assigned Mixta Nigeria a BBB- rating. This rating expires on the 30th of June 2020. According to Agusto & Co. :
“The rating assigned is hinged on the Company’s adequate working capital, moderate leverage, strong brand presence in the Nigerian real estate market and a stable and experienced management team. However, the rating is tempered by Mixta’s sub-par profitability, weak cash flow and the adverse macroeconomic environment which has negatively impacted demand for real estate generally.”
The Mixta Africa Group has a presence in five African countries represented through its subsidiaries: Mixta Nigeria, Mixta Maroc, Mixta Tunisie, Mixta Senegal and Mixta Cote d’Ivoire with plans to expand into Ethiopia. Mixta Nigeria is just one arm of the Mixta Africa Group representing 94% of the group’s total assets following the merger with ARM’s property company in 2014.
Some notable projects by Mixta Nigeria include residential projects such as Lakowe Golf Estate, Garden City Golf Estate, Beachwood Park, Residence de la Paix (Lagos), Fara Park (I & II) and retail projects such as Oluwole Urban Mall and Cross Town Mall.