NREIT Reports 357% Income Surge in H1 2026

The Nigeria Real Estate Investment Trust (NREIT) recorded a significant income increase of 357% in the first half of 2026, with total income rising to N7.97 billion from N1.74 billion in H1 2025. Profit before and after tax for the six months ended June 30, 2026, was N6.05 billion, compared to N1.41 billion the previous year, marking a year-on-year profit increase of approximately 328%.

Total comprehensive income also rose to N5.91 billion from N1.39 billion, reflecting a 325% increase. Despite a rise in operating expenses to N1.92 billion from N329.81 million, income growth outpaced costs.

NREIT's total assets increased to N215.83 billion from N197.01 billion, with cash and cash equivalents more than tripling to N12.09 billion. Liabilities rose to N26 billion, but net assets attributable to unitholders increased to N189.83 billion.

NREIT announced a second-quarter 2026 distribution of N1.72 per unit, payable on September 8, 2026, to unitholders registered by July 29, 2026.