Leading Pan-African Property Investment Group
What sets Grit apart as a leading pan-African property investment group?
Grit Real Estate Income Group (Ltd) is a pioneer in investing and managing high-value real estate properties on the African continent that provides superior income-generating ability and capital growth for its shareholders and investors. As a property investment group, our Company targets a net total shareholder return of 12% per year inclusive of NAV (net asset value) growth and a targeted US dollar dividend yield of 8.5% (Note these are targets and not forecasts.)
Our company is listed on:
- The Stock Exchange of Mauritius Ltd official market (SEM:DELN0000).
- The Johannesburg Stock Exchange main board (JSE:GTR).
- The London Stock Exchange main market (LSE:GR1T).
Through investment in selected properties in Africa, our Group contributes to the deepening of the real estate sector in each country of operation, which indirectly supports sustainable growth, job opportunities, tertiary education and NGOs. We are proudly active participants in creating jobs and improving the lives of communities in Africa.
Countries where our Group has property investments include, but are not limited to:
Grit is a member of the European Public Real Estate Association (EPRA) and, as such, adheres to ethical conduct and transparency in property investment dealings. With a proven track record of sound and profitable property investments in Africa, our Group has established itself as a leading real estate investment firm on the continent. Our portfolio has increased from two (2015) to more than 45 assets by the start of 2020. Examples of property investments and acquisitions from 2015 to the present are:
- Hollard Building in Mozambique for US $14,9m (2015).
- Vodacom Building in Mozambique for US $49m (2015).
- Zimpeto Square in Mozambique for US $10,2m (2015).
- Mukuba and Kafubu Malls in Zambia for US $40,6m (2015).
- Absa House in Mauritius for US $13,6m (2016).
- A 50% stake in Bollore Warehouse (Mozambique) and Buffalo Mall (Kenya) for US $14,8m – combined (2016).
- VDE Housing Estate in Mozambique for US $33,1m (2016).
- Mall de Tete in Mozambique for US $24,2m (2017).
- Imperial Distribution Centre in Kenya for US $18,0m (2017).
- A 6,25% stake in Letlole La Rona in Botswana (2017).
- A 47,5% stake in Capital Place in Ghana for US $12,2m (2018).
- An 80,1% stake in Acacia Estate in Mozambique for US $23,5m (2018).
- 5th Avenue Building in Ghana for US $20,5m (2018).
- An additional 25% stake in Mukuba Mall in Zambia for US $8,2m (2019).
- An additional 23,75% stake in Letlole La Rona in Botswana for US $13,8m (2019).
- Club Med Cap Skirring Hotel for €16,2 million in Senegal (2020).
Grit, as a property investment group, has an asset portfolio of more than US $860 million, with 92,8% of our tenants being multinational companies. 94,1% of property income is in hard currency. . The portfolio boasts 97,4% EPRA occupancy.
The property portfolio is diverse and includes investments in:
- Commercial Offices
- Light industrial and logistics warehousing
- Corporate accommodation
- Real Estate Development
The Company’s property loan to value stands at 41,9%, with the total operating cost to income ratio at 18,6%.
High-value tenant base
Grit is establishing itself as the landlord of choice for international blue-chip companies looking for accommodation on the African continent, as evidenced by the impressive list of leading corporations in the oil-and-gas, hospitality, retail, logistics, and telecommunications industries forming part of our high-value tenant list. Names such as Shoprite, Exxon Mobil, and Vodacom are examples. Download our 2020 e-Portfolio document and contact us for more information.