Nigeria Real Estate Investment Trust (NREIT) delivered a strong 2025 performance, and it drove growth through expansion.
Chapel Hill Denham manages NREIT, and it recorded a pre-tax profit of ₦25.06 billion in 2025.
This result marks a sharp rise from ₦3.1 billion recorded in the previous financial year.
Moreover, growth stemmed from rising property values and stronger income streams across its portfolio.
Chapel Hill NREIT Profit Boost Driven By Property Gains
Revaluation gains contributed ₦17.3 billion, and they formed the largest driver of annual performance.
In addition, rental income increased to ₦4.4 billion, as leasing activity improved.
Also, ‘Mudaraba’ transactions grew to ₦5.8 billion, and they supported overall operational expansion.
Furthermore, the trust expanded its portfolio, and it completed acquisitions worth ₦135 billion during the year.
It acquired a ₦124 billion residential estate in Maitama, Abuja, in October 2025.
Then, it acquired an ₦11 billion industrial warehouse in the Lagos Free Zone.
These investments strengthened the asset base and boosted future income generation capacity.
Strong Revenue Growth And Rising Costs
Consequently, total and gross income both reached ₦27.6 billion in 2025.
This compares with ₦3.6 billion and ₦4.04 billion in the previous year.
As a result, income rose by 582.5% year-on-year, reflecting strong operational performance.
However, expenses also rose to ₦2.5 billion, up from ₦932.8 million in 2024.
Management fees of ₦1.6 billion made up the largest portion of expenses.
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Despite higher costs, profit remained strong at ₦25.06 billion before tax.
With no tax recorded, profit after tax also stood at ₦25.06 billion.
Balance Sheet Strength And Asset Expansion
Meanwhile, total assets climbed to ₦197.08 billion, driven mainly by investment properties.
Investment properties accounted for ₦187.4 billion of total assets.
In addition, members’ funds rose to ₦161.1 billion, and they reflected stronger investor equity.
Retained earnings increased significantly to ₦21.7 billion.
Likewise, net asset value per unit rose to ₦115.16, up from ₦107.76 previously.
NREIT units listed on the Nigerian Exchange have remained relatively stable since listing.
Finally, the portfolio includes a ₦137.1 billion Abuja residential property and four industrial assets.
Combined industrial assets in the Lagos Free Zone are worth ₦50.3 billion.
