UH Real Estate Investment Trust (UH REIT) has posted total income of N1.3 billion for the 2025 financial year, according to its latest statement filed on the Nigerian Exchange.
This represents a 10.05% year-on-year increase from the N1.2 billion recorded in 2024, with net income settling at N1.16 billion after expenses.
With no tax or finance charges during the period, net income rose by 11.90% from N1.04 billion in the previous year, reflecting stronger profitability.
According to the statement, the REIT’s most valuable assets are the Sinari Daranijo property in Victoria Island, and the Rumens and Sapara Williams properties in Ikoyi, valued at N6.9 billion, N5.05 billion, and N4.02 billion, respectively.
Key highlights (FY 2025 vs FY 2024)
- Total income: N1.3 billion, up 10%
- Distribution, administrative, and other expenses: N223.3 million, up 1.30%
- Net income: N1.16 billion, up 11.90%
- Basic earnings per share: N6.22 vs N5.56
- Total assets: N28.9 billion, up 129.40%
- Unitholders’ equity: N27.8 billion, up 160.64% year on year
- Cash and cash equivalents: N2.3 billion, up 12.55% year on year
What the REIT’s numbers are saying
A closer look at the REIT’s financials shows that rental income of N723.5 million formed the largest share of the N1.3 billion total income reported in 2025.
- Interest income followed with N357.8 million, while sundry income contributed N311.4 million.
Operating expenses rose in line with higher income, increasing to N223.3 million from N197.1 million in the previous year.
- Manager’s fees accounted for the largest portion at N106.1 million, followed by custodian fees of N10.6 million.
After expenses, net income settled at N1.16 billion, with basic earnings per share improving to N6.22 from N5.56, pointing to stronger value for unitholders.
Balance sheet
On the REIT’s balance sheet, total assets more than doubled to N28.9 billion, up from N12.6 billion in the previous year.
- Investment properties accounted for the largest portion at N25.6 billion, a significant rise from N9.2 billion in 2024.
- Cash and cash equivalents were the next largest contributor at N2.3 billion, followed by investments in Sukuk at N463.8 million.
Unitholders’ equity rose sharply to N27.8 billion from N10.6 billion, with revenue reserves of N18.4 billion making up the bulk of this total.
On the liabilities side, obligations fell to N1.1 billion from N1.9 billion the previous year, as the trust reduced accruals and other payables.
What to know
- UH Real Estate Investment Trust had a strong 2025, with total income of N1.3 billion and net income of N1.16 billion. Rental income was the biggest contributor.
- Expenses rose slightly, but profit improved, pushing earnings per unit to N6.22 from N5.56.
- Total assets more than doubled, led by investment properties, cash, and Sukuk.
- Unitholders’ equity grew to N27.8 billion, while liabilities fell.
In 2026, the trust’s units are up 82.93% on the NGX, trading at N94.85.
