The gross revenue of SFS Real Estate Investment Trust (SFS REIT) climbed to N554.91 million last year, up from the N395.42 million it achieved in the previous year.
The fund’s net income rose significantly by 50.26 per cent to N477.09 million, translating into a dividend payout of N21.50 per unit, as well as translating to a 48.28 per cent increase from the N14.50 distributed in 2023.
The fund manager said the increase was driven by consistent rental income, strategic property disposals and interest income. It also attributed the strong result to a combination of efficient asset management, tenant stability and targeted portfolio optimisation.
According to it, the 2024 financial year was a remarkable one for the SFS REIT, posting outstanding growth across all key performance indicators and reaffirming its commitment to long-term value creation for investors.
For investors, it stated that the numbers speak volumes with a dividend of N21.50 (up from N14.50 in 2023), net asset value (NAV) of N2.78 billion (7.21 per cent growth) and a total return of 98.27 per cent.
“This year’s performance reflects our strategy of disciplined asset management and sustainable income generation. We remain focused on enhancing returns while preserving investor capital,” he said.
It stressed that the results not only demonstrate resilience in a challenging macroeconomic environment but also reinforce SFS REIT’s standing as one of the most attractive real estate investment vehicles in Nigeria. It added that as the fund looks ahead, the goal remains unchanged by consistently delivering income, capital growth, and long-term value to unitholders.
