Afriland assets hit N19bn in 2022 – Report

Oluwanifemi Ojo
Oluwanifemi Ojo
Afriland Properties

A leading  real estate company, Afriland Properties Plc has reported that its overall assets rose by 12 per cent from N17.3bn in 2021 to N19.4bn in 2022.

This information was made known in a statement regarding the company’s audited financial results for the year that ended on December 31, 2022, accessed by The Punch.

According to the report, the company also stated that their revenue increased by 19% from N1.6bn in 2021 to N1.9bn in 2022.

The Managing Director/ Chief Executive Officer, Afriland Properties Plc, Uzo Oshogwe, said the company remains committed to providing its shareholders with high-quality projects and services, even in the face of unfavorable economic conditions.

Speaking about the plans of the company, she said, “Despite a significant increase in the cost of development, mainly due to the astronomical rise in the cost of building materials, Afriland will continue to build upon its five-year strategic plan which will drive the completion of numerous developments across the country.”

In her words, “We will increase the number of our commercial and residential developments and significantly upscale our activities in the project management, facilities management, and property management space. Our goal is to deliver superior returns to our shareholders and enhance our brand.”

The CEO further added that they plan to utilise the data that would be gotten from the forthcoming population census in her development.

“We intend to take advantage of the upcoming national population and housing census to ensure that our policies are structured towards maximising opportunities made available by the exercise,” she added.

Afriland Properties Plc is a real estate development and management company based in Nigeria. The company was established in 2012 and has its headquarters in Lagos, Nigeria. Afriland Properties Plc is a subsidiary of the Afriland First Group, a financial services group with operations across several African countries.

The company is involved in various aspects of the real estate industry, including property development, property management, and facilities management.

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