Tag: Afriland Properties Plc

Afriland Properties Plc has reiterated its commitments towards partnering with the government in safeguarding and unlocking potential of Lagos waterfront.

Speaking at the inaugural Lagos Waterfront Summit organised by the Lagos State Ministry of Waterfront Infrastructure Development, Afriland Properties underscored the need for all stakeholders to work together to protect the waterfront.

Managing Director, Afriland Properties Plc, Azubike Emodi, said Afriland Properties has played a defining role in shaping the Lagos real estate landscape with notable commercial and residential developments.

According to him, from redefining urban living to creating thriving business spaces, Afriland has consistently shown that real estate goes beyond structures, it is about building sustainable communities.

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“As a company, we are deeply invested in the sustainable growth of Lagos. Protecting the waterfront is both an environmental and economic imperative.

“Afriland is committed to partnering with government, communities, and stakeholders to ensure that our waterfronts remain engines of growth, resilience, and pride for generations to come,” Emodi said.

He commended Lagos State Governor, Mr. Babajide Sanwo-Olu, for the successful hosting of the summit, describing the initiative as both timely and critical to the sustainable future of Lagos.

He emphasised that the waterways play a pivotal role in sustaining property values, enabling recreation and tourism, and creating opportunities for waterfront living.

“When properly managed, Lagos’ waterfronts open doors to innovation and growth. But when abused through illegal dredging and neglect, they threaten not just the environment but the future of sustainable urban development,” Emodi stated.

He urged all stakeholders to reinforce their commitments by seizing the momentum of the summit to drive lasting policies and collective action that will safeguard Lagos’ waterfronts.

Afriland Properties Plc has successfully paid an interim dividend of 13 kobo per share, amounting to N178.6 million, to its shareholders for the half-year ended June 30, 2025.

Speaking on the development, Chairman of the Board, Emmanuel Nnorom, said: “The interim dividend underscores our Board’s confidence in Afriland’s strategy and financial resilience.”

Also commenting, Managing Director/CEO, Azubike Emodi, said it is part of the firm’s commitment to delivering sustainable value to investors.

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He said: “This payout demonstrates the effectiveness of our business model and our commitment to consistently turning performance into real value for our shareholders. Beyond financial results, it reflects the impact of developments like Afriland Estate, Karmo in Abuja, where we are redefining modern living through innovative design, and sustainable infrastructure. Projects like this show how we translate vision into developments that not only yield returns for investors but also enrich everyday life for the families and communities we serve.”

Afriland Estate, Karmo, stands today as one of Abuja’s most exciting residential addresses. Strategically located near Jabi and the Central Business District, the estate offers residents the perfect balance of accessibility, comfort, and community living. With its modern homes, green landscapes, secure environment, and inclusive design.

Afriland Properties Plc has declared an interim dividend of N178.6 million for the first half of 2024.

Shareholders of the real estate company will receive an interim dividend per share of 13 kobo for the first half ended June 30, 2024.

Managing Director, Afriland Properties Plc, Uzo Oshogwe, said the interim payout highlighted the company’s resilience, which is built on its diversified portfolio of investments and offerings.

She expressed her appreciation to shareholders for their continuous trust and support.

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“Afriland Properties remains dedicated to leveraging innovative strategies to drive long-term growth while offering end-to-end services across the real estate value chain. This interim dividend payment reflects our obligation to enhance shareholder value, which remains core to our strategy,” Oshogwe said.

She noted that Afriland Properties had reported a 150 per cent increase in its full-year dividend payout to shareholders at its 2023 annual general meeting, further underscoring its commitment to delivering exceptional value.

Oshogwe outlined that Afriland Properties has new landmark developments in Abuja and Lagos to meet the growing demand for high-quality homes and commercial spaces.

According to her, these efforts are aimed at reinforcing the company’s position as a market leader in the Nigerian real estate sector and ensure sustainable returns for all stakeholders.

• Total assets rise by 76% to N34.1b

Shareholders of Afriland Properties Plc yesterday approved 150 per cent increase in dividend payout as the property company saw significant growths in its revenue and profitability.

At the annual general meeting, shareholders approved a dividend payout of N343.5 million for 2023 business year, representing 150 per cent increase on N137.4 million paid for the 2022 business year.

Shareholders commended the performance of the company, which made the increase in payout possible.

 Key extracts of the audited report and accounts of Afriland Properties for the year ended December 31, 2023 showed that turnover rose by 150 per cent from N1.89 billion in 2022 to N4.72 billion in 2023. Profit before tax grew by 34 per cent from N1.80 billion to N2.41 billion. After taxes, net profit increased from N1.19 billion in 2022 to N1.73 billion. Total assets jumped by 76 per cent to N34.07 billion in 2023 as against N19.38 billion in 2022.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude said shareholders were delighted with the performance of the company.

He said the outstanding financial performance has further reaffirmed shareholders’ confidence in the company’s leadership and strategic direction. 

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National Coordinator, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare said the results underscored the resilience of the business, urging the company not to rest on its oars.

She said Afriland Properties has proven itself as one of the largest property companies in the country with its portfolio size of over N14 billion and one of the largest land banks in Nigeria.

Speaking at the meeting, held virtually, Chairman, Afriland Properties Plc, Emmanuel Nnorom said the remarkable growth achieved in the financial year 2023 reflected the company’s commitment to creating value for all stakeholders.

According to him, the performance underscored the dedication of the management team and the unwavering support of shareholders.

He said the company would explore more opportunities in the sector to unlock its full potential to pave the way for long-term growth and development.

He outlined that the company had during the period under review completed the development of its residential proprietary projects situated at Oba Oyekan Avenue in Ikoyi and Aromire Avenue in Ikeja as well as Afriland Complex in the Abule-Egba area of Lagos State.

Nnorom said the company remains committed to harnessing state-of-art technologies to elevate the design, construction and administration of projects.

Managing Director, Afriland Properties Plc, Uzo Oshogwe, said the continuing development and completion of major proprietary projects were some of the drivers contributing to the impressive financial performance of the company.

She highlighted that the company plans to further diversify its development portfolio in the current year.

“In line with our growth strategy, Afriland Properties Plc plans to commence the construction and equally commission several landmark projects in the coming years in Lagos, Abuja, and Port Harcourt. Notable among these projects is Afriland Estate, a fully residential estate in Abuja, further solidifying our position as a market leader in the real estate sector. Afriland Properties remains dedicated to creating sustainable communities and enhancing shareholder value through its strategic investments and operational excellence,” Oshogwe said.

She said the company would take advantage of the federal government and subnational policies gear towards providing housing to the citizens.

She said the company would continue to explore the possibility of partnering with any reputable organisation to optimise its property portfolio and improve the rental yield on performing assets.

“We are committed to leveraging on viable opportunities to drive sustainable growth for your company despite the harsh operating environment inherent in the Nigeria economy as factors such as inflation, currency fluctuation and overall economic downturn may not abate in 2024,” Oshogwe said.

According to her, the company would remain committed to sustainable real estate development goals through strategies aimed at incorporating environmental-friendly designs techniques, materials and technologies into the building process.

Oshogwe commended the shareholders for their unwavering support and confidence, assuring them of enhanced performance in the future.