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Stanlib Kenya in $120m Real Estate Investment Trust IPO

Stanlib Kenya Ltd. intends on raising up to $120m (12.5 billion Shillings) before November for the initial public offering (IPO) of what will be Kenya’s flagship Real Estate Investment Trust (REIT). Fahari I-REIT will be listed on the Nairobi Stock Exchange and SBG Securities, owned by the Standard Bank Group Ltd. will be the bookrunner for the IPO. […]

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NSIA 2014 Annual Report – The Real Estate Overview

In late August, the Nigerian Sovereign Investment Authority (NSIA) released the complete financial report for the year ending December 2014. The year ended with net comprehensive income of ₦15.8 billion, up from the ₦525 million recorded in the previous Annual Report for the 15-month period ending 31 December, 2013. Their milestones for 2014 are shown in the […]

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Resilient Africa is Investing $271m in 2nd Tier City Shopping Malls

Updated: 3rd August 2015 By year-end 2016, Resilient Africa is set to have invested $271m developing shopping malls in 2nd tier cities across Nigeria. The company, which was created through a joint venture with Resilient Properties – a leading South African REIT, Shoprite and Standard Bank, is attempting to establish a strong foothold in cities where little or no […]

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Q1 Update for Nigerian Real Estate and Construction Stocks

Stocks in the real estate and construction sector of the Nigerian Stock Exchange experienced a poor start to 2015, returning -11.82% to shareholders over the 1st quarter. Julius Berger and Costain were responsible for all the negative returns seen as they fell -16.44% and -24.08% respectively. The marginal gain of 1.3% from the UAC Property Development Company along with the flat performance […]

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Where Is HMK REIT?

When the Haldane McCall REIT (HMK REIT) was announced in December 2014, it served as an interesting addition to the Nigerian REIT universe. Offering 2,600,000,000 units at N5.15 each, it would have been valued at N13.39b making it the 2nd largest Nigerian REIT after UPDC. However, the timetable set out in the prospectus, which stipulated that the REIT […]

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SEC Nigeria is preparing capital markets for an era of securitization

SEC Nigeria is laying the fundamental groundwork to begin an era of securatization in Nigerian capital markets. The new rules, shown in a circular released on the 7th of April were created to allow for the process of transforming an asset or a group of assets into securities through financial engineering. These rules also provided the definition of terms, the structure, […]

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Nigeria Sovereign Investment Authority 2014 Annual Result

On Friday, the Nigeria Sovereign Investment Authority released their annual result for the Year ending 31st December 2014. The results showed that the Authority’s Total Assets grew by 8% and Net Income rose from N505.7m to N13.9b. In October last year, NSIA CEO Uche Orji explained that its investment programme in the six months that followed would go ahead, even as […]

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The Nigerian Sovereign Wealth Fund Can’t Save Nigeria’s Economy Just Yet

In 2012, the Nigerian Sovereign Investment Authority (NSIA) was created to drive sustained economic development for the benefit of all Nigerians by building savings, enhancing infrastructure development and providing stabilisation support in times of economic stress. The NSIA manage the country’s Sovereign Wealth Fund. This is simply an investment fund owned by government of a sovereign […]

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Opinion: 6 Challenges facing the Nigerian REIT Industry

Last month I attended a roundtable discussion organised by Stanbic on the Nigerian REIT (Real Estate Investment Trust) sector, where investors, stakeholders and regulators attempted to tackle the key problems currently being faced. The 3 discussions, ‘Asset Acquisition and Valuation Considerations’, ‘Creating Successful REITs’ and ‘Land Acquisitions and Physical Planning’ though very interesting, illustrated to me […]

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Over $2.5bn in Nigerian Bank Acquisitions in 2014 (Infographic)

Initially Published - 8/12/2014. Updated - 12/2/2015. The Nigerian sector saw strong acquisition activity in 2014 with transactions totalling $2.5bn seen. International institutions were increasing their stakes in Nigerian banks to tap into the inherent potential observed in low penetration rates, while others were expanding existing operations or seeking exposure to Nigeria’s high risk-high return investment market. Qatar National Bank (QNB), Nedbank, […]

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