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Tag: Afriland Properties

  • Afriland Properties appoints Odebiyi as Executive Director

    Afriland Properties appoints Odebiyi as Executive Director

    Afriland Properties Plc with a portfolio size of over N14 billion and one of the largest land banks in Nigeria, is pioneering the opportunities presented by an institutional approach to real estate, serving niche markets throughout Africa.

    In a statement it announced the appointment of Olukayode Odebiyi as an Executive Director in the company.  The strategic move is part of Afrilands ongoing efforts to enhance operational efficiency and expand its project portfolio in line with its vision of redefining the real estate landscape.

    Olukayode, who previously served as Director of Property Development at Afriland Properties, has been instrumental in the successful execution of several transformative projects that reflect the company’s commitment to innovation, excellence, and sustainable development.

    Speaking on the appointment, Board Chairman, Afriland Properties Plc, Emmanuel Nnorom,  said:”Olukayode’s appointment underscores our dedication to nurturing talent and recognizing exceptional leadership potentials. As an organization that prioritizes career progression and growth, Afriland remains committed to leveraging the skills and expertise of our workforce to achieve corporate goals. Olukayodes vast experience and strong leadership qualities make him a valuable addition to the executive team. His contributions will further bolster our ability to deliver value to our stakeholders.

    MD/CEO, Afriland Properties Plc, Uzo Oshogwe,   also expressed her confidence in the appointment. She stated that Olukayode has consistently demonstrated his capacity to drive projects that align with our mission. With over two decades of experience spanning real estate, strategy, and business development, he brings a wealth of expertise that positions him to play a pivotal role in achieving Afrilands goals of delivering innovative and sustainable property solutions.

    Read Also: Afriland Properties’ shareholders get 150% dividend growth

    In his new capacity, he will oversee Project Development, Business Development, and Facilities Management, driving strategic initiatives that align with Afrilands long-term objectives.

    With over 24 years of professional experience in Real Estate and Portfolio Management, Strategy Development, Finance and Treasury Management, and Business Development, Olukayode is a respected leader in the industry. His expertise spans project management, data analysis, and enhancing building efficiency, skills that will be invaluable as Afriland pursues its ambitious growth plans.

    An alumnus of the Harvard Graduate School of Designs Advanced Management Development Program in Real Estate (AMDP), Olukayode also holds an MBA from the Lagos Business School and a BSc in Economics from the University of Ibadan.

  • Afriland Properties to drive growth with new investments

    Afriland Properties Plc will invest in new processes and technology and foster responsive innovation to drive growth in the years ahead.

    At the annual general meeting yesterday in Lagos, the board and management of the real estate company assured shareholders that the company will continue to explore opportunities to grow its portfolio and deliver better values to shareholders.

    The assurance came as shareholders approved payment of N68.70 million as cash dividend for the 2018 business year, representing a dividend per share of 5.0 kobo.

    Key extracts of the audited report and accounts of Afriland Properties for the year ended December 31, 2018 showed that the company grew its top-line marginally from N1.28 billion in 2017 to N1.30 billion in 2018. Profit before tax and profit after tax stood at N915 million and N682 million respectively. Total assets rose by 26 per cent to N24.9 billion.

    Addressing the shareholders, Managing Director, Afriland Properties Plc, Mrs. Uzo Oshogwe noted that while the halt in economic recovery witnessed after the recession negatively impacted the real estate industry, the company grew its revenue to N1.30 billion in 2018.

    She assured that the company will continue to execute on its key strategies and initiatives to deliver its intent and yield better results in the years ahead.

    “We recognize the need to foster innovation and respond quickly to opportunities in the real estate industry and have taken appropriate measures. We will also invest in new processes and technology in line with our purpose of improving lives,” Oshogwe said.

    She said Afriland is committed to improving lives by investing in the development, management and maintenance of world-class real estate offerings across Africa.

    Chairman, Afriland Properties Plc, Mr. Emmanuel Nnorom said the 26 per cent increase in the company’s assets was attributable to the upgrade of its investment properties.

    He said increasing shareholder value and boosting returns remain top priorities for Afriland Properties Plc, assuring that the board will continue to commit resources towards achieving this objective.

    “In our pursuit of continuous business growth and excellent financial performance, we are working closely with the management team to ensure that the company delivers on its promises and targets,” Nnorom said.

     

     

  • Afriland Properties reports 233% increase in PAT

    Afriland Properties Plc has posted a Profit After Tax (PAT) of N1.02 billion for the year ended, December 31, 2017, representing 233 per cent increase compared to the N307 million realised in 2016.

    Total assets in the year under review stood at N19.8 billion, which represents 17.9 per cent increase over N16.8 billion recorded in 2016.

    The Board of Directors gave the report during the company’s 5th Annual General Meeting, which took place at the Banquet Hall of Lagoon Restaurant on Tuesday, March 27, 2018. The shareholders also approved the Board’s proposal to pay a sum of N137.39 million as dividend, translating to 10 kobo per ordinary share.

    In the 2017 financial year, Afriland properties Plc also recorded 11 per cent growth in revenue from N1.1 billion in 2016 to N1.3 billion, while profit before tax increased by 96 per cent to N1.06 billion from N0.540 billion in 2016 financial year.

    The Managing Director/Chief Executive Officer, Afriland Properties Plc, Mrs. Uzo Oshogwe, stated that “though the year under review was a period of unprecedented challenges and profound economic instability, our company was steadfast in our delivery and dedication to our clients while earning a good return for our shareholders. Our teamwork and intense focus reflects in the strong performance across our businesses.

    “Our purpose to improve lives by investing in the development, management and maintenance of world-class Real Estate offerings across Africa, remains a driving force and we would continue to build our capabilities and investments in our people, systems and product.

     

     

  • Afriland Properties to distribute 125m shares to shareholders

    The Board of Directors of Afriland Properties Plc has recommended distribution of about 124.9 million ordinary shares of 50 kobo each to shareholders of the company as bonus shares for the immediate past business year.

    Shareholders in the book of the company as at the close of business on Tuesday, March 7, 2017 will receive one bonus share for every 10 ordinary shares of 50 kobo each held as at the qualification date. The company plans to capitalise a total sum of N62.45 million from the balance standing to the credit of its share premium account by December 31, 2016 to create the bonus shares.

    Afriland Properties also plans to increase its authorised share capital from N675 million to N686.95 million by creating additional new shares of 23.90 million ordinary shares of 50 kobo each, which shall rank pari passu with the existing shares of the company. Thus the Memorandum of Association of the company will be amended to indicate that its share capital is N686.95 million divided into 1.374 billion ordinary shares of 50.

    Shareholders of the company are expected to vote on the bonus shares and increase in share capital at the annual general meeting next week in Lagos.

    Afriland Properties had in 2013 started implementing a five-year strategic plan that will enhance its asset base and create value for shareholders.

    Afriland Properties Plc Chairman, Erelu Angela Adebayo, said the five-year growth plan would lead to development of many projects.

    According to her, the growth plan will see the company moving progressively from facilities management into the construction of large-scale commercial and residential properties in Lagos and Abuja.

    She noted that the malls and estates the company plans to build will not only enhance the lives of ordinary Nigerians but reflect great opportunities for our company and our shareholders.

    “We are now in the second year of implementation, which will consolidate Afriland Properties’ unique position in Nigeria’s property industry and establish a foundation for our expansion to other parts of the country,” Adebayo said.

    Afriland Properties was spun off from United Bank for Africa (UBA) Plc and merged with Heirs Real Estate Limited in December 2013. The merger aligned the long-term interests of both companies and leveraged on their complementary strengths to expand operations and expertise.

    With a portfolio size of over N10 billion and one of the largest land banks in Nigeria, Afriland Properties is pioneering the opportunities presented by an institutional approach to real estate, serving niche markets throughout Africa.

  • Afriland Properties promises sustainable returns

    Afriland Properties promises sustainable returns

    The Board of Directors of Afriland Properties Plc has promised that the company would continue to grow its businesses while ensuring better returns to shareholders.

    Addressing shareholders at the Annual General Meeting of the company, Chairman, Afriland Properties, Erelu Angela Adebayo said the company would be mindful of its obligations to shareholders and future business development.

    “We will continue to strike a good balance between our obligations of rewarding shareholders and the need to retain earnings to finance future reinvestments in the company’s operations,” Adebayo said.

    She pointed out that the 44 per cent increase in the company’s operating income was attributable to the increased level of activities in project directorate and project management, increased rental income and re-valuation gains on investment properties.

    Managing Director, Afriland Properties Plc, Mrs. Uzo Oshogwe said the management of the company kept it on a strong, stable trajectory and delivered a solid performance in spite of the economic headwinds last year.

    According to her, the results in the fiscal year 2015 were possible due to effectiveness and efficiency in the way the company works and its ability to deliver excellent and innovative real estate solutions to its clients.

    She added that the reduction in profit over prior year resulted from the diminution in the value of the company’s share investment and the increase in the level of tax provision.

    Afriland Properties announced an operating income of N2.3 billion for the year ended December 31, 2015, representing 44 per cent increase compared to the corresponding period of 2014. The company’s total assets increased to N15.3 billion from N8.2 billion during the period under review representing 87 percent increase. The company achieved a profit before tax of N1.72 billion in 2015 as against N1.74 billion in 2014. Profit after tax stood at N1.15 billion as against N1.51 billion in the previous year.

     

     

  • Afriland Properties launches five-year growth plan

    Afriland Properties Plc, a N10 billion real estate firm, has started implementing a five-year strategic plan that will enhance its asset base and create value for shareholders.

    Chairman, Afriland Properties Plc, Erelu Angela Adebayo said the board and management of the real estate firm has started implementing a five-year growth plan that would lead to development of many projects.

    According to her, the growth plan will see the company moving progressively from facilities management into the construction of large-scale commercial and residential properties in Lagos and Abuja.

    She noted that the malls and estates the company plans to build will not only enhance the lives of ordinary Nigerians but reflect great opportunities for our company and our shareholders.

    “We are now in the second year of implementation, which will consolidate Afriland Properties’ unique position in Nigeria’s property industry and establish a foundation for our expansion to other parts of the country,” Adebayo said.

    Chief executive officer, Afriland Properties Plc, Mrs. Uzo Oshogwe, said, the company has lined up proprietary projects which would be executed solely or as joint ventures, in addition to a key strategic acquisition, which will increase its asset base and balance sheet considerably in the coming years.

    According to her, the Falomo Shopping Centre is the most important project of the company at the moment.

    “Our shareholders can expect to see great things from that development, which we have already begun working on,” Oshogwe said.

    At its first annual general meeting in Lagos, the company distributed N100 million to shareholders, representing a dividend of 10 kobo per share for the 2013 financial year.

    Afriland Properties was spun off from United Bank for Africa (UBA) Plc and merged with Heirs Real Estate Limited in December 2013. The merger aligned the long-term interests of both companies and leveraged on their complementary strengths to expand operations and expertise.

    Addressing the shareholders, Adebayo said the company recorded an operating income of N595 million for the year ended December 31, 2013, showing a growth of 2,495 per cent above the N22.945 million posted in the 2012.  Profit before tax rose by 1,177 per cent from N33.26 million in 2012 to N424.75 million in 2013.

    With a portfolio size of over N10 billion and one of the largest land banks in Nigeria, Afriland Properties is pioneering the opportunities presented by an institutional approach to real estate, serving niche markets throughout Africa.