NREIT total income surges by over 350% to N7.97bn in H1 2026

Nigeria Real Estate Investment Trustfund (NREIT) has declared a massive surge in income for the first half of 2026 by over 350%.

According to the fund’s unaudited second-quarter financial statements submitted to the Nigerian Exchange (NGX), the total income climbed by 357.26 percent to N7.97 billion in the six months ended June 30, 2026, up from N1.74 billion recorded in the corresponding period of 2025.

This massive top-line increase provided strong operating leverage for the real estate investment fund, powering profit before tax and profit after tax to N6.05 billion each, representing a 328.17 percent year-on-year jump compared to N1.41 billion achieved in the first half of 2025.

The triple-digit expansion in income comfortably cushioned the fund against an escalating operating cost profile.

Operating expenses increased by 481.87 percent year-on-year to N1.92 billion from N329.81 million, lifting cost-to-income to 24.1 percent against 18.9 percent in H1 2025.

Despite foreign exchange losses widening to N140.20 million from N22.25 million, total comprehensive income expanded to N5.91 billion from N1.39 billion posted in the comparative half of 2025.

On the back of the strong first-half earnings, the fund manager, Chapel Hill Denham Management, announced a Q2 2026 distribution of N1.72 per unit to qualifying unitholders on the register as of July 29, 2026, with payment scheduled for September 8, 2026.

The fund’s balance sheet showed steady growth, with total assets rising by 9.55 percent to N215.83 billion from N197.01 billion at year-end 2025, while investment properties remained stable at N187.43 billion.

Net assets appreciated by 3.76 percent to N189.83 billion from N182.95 billion, supported by an expanded cash and cash equivalents position of N12.09 billion, reinforcing the trust’s liquidity buffer as it deepens its commercial footprint on the Nigerian bourse.