July 2, 2018

Listed Real Estate Update: UHOMES REIT Performance Indicators, Ikeja Hotels Suspension Lifted and Infinity Mortgage Bank Results

Dolapo Omidire

  • Infinity Mortgage Bank has published an extract of their unaudited and interim financial statements for Six Months Ended 30 June, 2018. During the period, the company made N141,006,556, 41% higher than the N100,172,209 made in the same period last year. See more here.
  • Union Homes REIT published performance indicators for their real estate portfolio at the end of May 2018. The REIT currently has 13 properties, a Net Asset Value of N12.8bn and yields ranging between 0-8%. Commentary to follow. See more here.
  • Ikeja Hotels PLC, whose shares were suspended from trading in November 2016, has seen this suspension lifted by the Nigerian Stock Exchange in May 2018. This follows the company’s status update on their restructuring event. According to their website, Ikeja Hotels PLC has direct or indirect ownership and control of Sheraton Lagos Hotel, Sheraton Abuja Hotel, and Federal Palace Hotels & Casino. See more here.

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