GRIT Real Estate Income Group (LON:GR1T), the leading pan-African real estate company, has released a trading update for its financial year ending June 2019. The company is on track to deliver its targeted 12% total shareholder return for FY June 2019, and an increased dividend. Furthermore, the occupancy rate stands at 97.2%, and 95% of expiring Gross Lettable Area has been renewed or replaced.
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Grit Real Estate Income Group, which is listed on the JSE, in London and in Mauritius and which invests in property assets in seven African countries, excluding South Africa, said yesterday its portfolio continues to deliver secure and growing income, and it was trading in line with the board’s expectations. The group said in a trading update ahead of the release of results the year to end-June 30, 2019, that they are “on track to deliver its targeted 12percent total shareholder return and positive growth in dividend”.
Hyprop’s shares have lost about a fifth of their value since Moody’s downgraded it in February because of its debt structure.
Leading Luxury Real Estate Agency Cameo1 Homes reports it will accept bitcoin for payment when their website is launched in July. Accepting cryptocurrencies will reflect Cameo1 Homes mission of embracing global trends by offering buyers “more flexibility for ease of purchase.”
In a bid to reduce the deficit in housing needs of Lagosians, the Lagos State Government has assured its residents of its commitment to ensuring easy access to quality and affordable houses. The Permanent Secretary, Ministry of Housing, Wasiu Akewusola made this known while conducting a site inspection of LagosHOMS, Igando Gardens in Alimosho area of Lagos.
The Greater Accra Regional Hydro Director, Mr. Evans Anakwa has encouraged Metropolitan, Municipal and District Assemblies (MMDAs) to each form a ‘’Construction Task Force’’ to check unauthorised construction of buildings which take place during weekends.
It will take not less than $100 billion, approximately N36 trillion, to enable stable power supply in Nigeria. This is according to the Electricity distribution companies (Discos). The Discos said the N36 trillion worth of investments will be needed over a period of 20 years.
Funmilayo Onajide, the founder of Regalo African Luxury and former general manager, corporate affairs at MTN, says the current infrastructure in Nigeria does not support luxury infrastructure. Speaking at the fifth-anniversary celebration of The Luxury Reporter Magazine, Onajide said there is a need for proper shopping malls that will support luxury retail.
Real estate development firm, Brains and Hammers Limited, says it is working with the cooperative society of major International Oil Companies, particularly Shell and ExxonMobil to provide 117 housing units across three hectares of land in Eti Osa Local Government Area of Lagos State.
Student Accomod8 says it has raised debt funding from the Nigeria Infrastructure Debt Fund through Chapel Hill Denham for the expansion of two of its existing purpose-built student’s accommodation serving Pan Atlantic University and Olabisi Onabanjo University.