UH Real Estate Investment Trust (UH REIT) posted total income of ₦1.3 billion for the 2025 financial year, marking a 10% increase from the ₦1.2 billion recorded in 2024. Net income rose to ₦1.16 billion after expenses, representing an 11.9% year-on-year growth and reflecting stronger profitability.
The REIT’s robust performance was primarily driven by its high-value properties, including the Sinari Daranijo property in Victoria Island and the Rumens and Sapara Williams properties in Ikoyi, valued at ₦6.9 billion, ₦5.05 billion, and ₦4.02 billion respectively. Rental income formed the largest portion of total revenue, contributing ₦723.5 million, followed by interest income of ₦357.8 million and sundry income of ₦311.4 million.
Operating expenses increased slightly to ₦223.3 million from ₦197.1 million in 2024, reflecting the REIT’s expanding operations. Managerial fees accounted for the bulk at ₦106.1 million, while custodian fees were ₦10.6 million.
On the balance sheet, total assets more than doubled to ₦28.9 billion from ₦12.6 billion, led by investment properties at ₦25.6 billion, cash and cash equivalents at ₦2.3 billion, and Sukuk investments valued at ₦463.8 million. Unitholders’ equity also rose sharply to ₦27.8 billion, while liabilities decreased to ₦1.1 billion, showcasing strong financial management and a solid foundation for future growth.
The REIT’s strong 2025 performance underscores its strategic focus on high-value properties in prime Lagos locations, reinforcing its position as a key player in Nigeria’s growing REIT market. Basic earnings per unit improved to ₦6.22 from ₦5.56, delivering enhanced value to unitholders, with 2026 units already up 82.93% on the Nigerian Exchange, trading at ₦94.85.
