UPDC REAL ESTATE INVESTMENT TRUST

UPDC Real Estate Investment Trust, established in June 2013, operates as a close-ended Real Estate Investment Trust (REIT) listed on the Nigerian Exchange (NGX). It was sponsored by UACN Property Development Company (UPDC), now known as UPDC Plc, which initially issued three billion units at N10 each, facilitating its listing on the Nigerian Stock Exchange and regulation by the Securities and Exchange Commission. The trust's core business model centers on pooling investments to own and operate a diversified portfolio of income-producing real estate assets across Nigeria. Its primary objective involves generating stable cash distributions for unitholders, achieved through the distribution of a significant portion of its net income as dividends, while also aiming for long-term capital preservation. The trust's investment portfolio encompasses various income-generating real estate properties, including residential, commercial, and purpose-built student accommodations. It strategically invests in key markets within Nigeria, particularly in major cities such as Lagos and Abuja, with notable properties including Abebe Court in Ikoyi, Victoria Mall Plaza in Victoria Island, and the UAC Office Complex in Abuja. Beyond physical properties, the trust also allocates investments to financial instruments like bonds, treasury bills, and other liquid assets. Stanbic IBTC Asset Management Limited serves as the Fund Manager, overseeing the trust's assets, while United Capital Trustees Limited and FBNQuest Trustees Limited act as trustees, ensuring the fund is managed in the interest of its unitholders.