UPDC REIT Q3 2026 NAV Hits ₦6.2bn Across Five Properties

UPDC Real Estate Investment Trust disclosed a net asset value of ₦6,203,588,406 as at 30 September 2026, covering a portfolio of five properties located across Lagos State. The properties span Ikoyi, Victoria Island, Sangotedo in Lekki, and Lagos Island.

The portfolio includes two residential blocks of flats, one office block, one hostel facility, and one retail space. Abebe Court in Ikoyi holds 26 units and is let to individuals on annual tenancies at a yield of 5.39%, with 100% occupancy. Victoria Mall Plaza 1 on Victoria Island carries 47 units, targets corporate tenants, and records a 5.58% yield at full occupancy. Victoria Mall Plaza 2, also on Victoria Island, is an office block spanning 7,454 square metres with a yield of 11.54% and 100% occupancy. Pearl Hostel in Sangotedo holds 125 units, yields 28.36%, and records 98% occupancy. Kingsway Building on Lagos Island offers 122 retail units at a 9% yield but carries the lowest occupancy rate in the portfolio at 77%. All tenancies are on annual terms.