LAPTRUST Imara I - REIT Records Kshs 99.6 Mn ($0.7 Mn) Profits, In H1:2023

LAPTRUST Imara I – REIT has released its first-ever financial results, following its listing in January 2023. According to the H1:2023 report, the REIT realized profits worth Kshs 99.6 Mn ($0.7 Mn), mainly driven by the rental income recorded at Kshs 167.1 Mn ($1.2 Mn), as highlighted in the table below:

Source: LAPTRUST Imara  I – REIT

Notably, the total operating expenses were recorded at Kshs 103.6 Mn ($ 0.7 Mn), mainly driven by property expenses worth Kshs 69.5 Mn ($ 0.5 Mn).

Breakdown of Imara’s Property Portfolio By Value

Source: Imara I – REIT, N/B:Values As At 31st December 2022

Property Portfolio Description

Source: Imara I – REIT

Property Portfolio Distribution By Sector

Source: Imara I – REIT

Declaration Of Dividends

As a transition period, the board of directors did not declare an interim dividend. A full distribution will be declared at the end of this fiscal year.

Imara’s remarkable performance in its first listing period is commendable, as it also boosts investment confidence in the REIT market. Notably, we expect its performance to remain stable for the remaining period of the year. 

Estate Intel loves your feedback! Let the Estate Intel Insights team know what you think about Imara’s H1:2023 performance by sending an email to [email protected].

Subscribe to ei Pro to access affordable real estate data such as; sales rates, yields, supply drivers, and information on key Real Estate market participants who are active in the market.