Mauritius-based real estate group investing in high-value properties
Grit Real Estate Income Group is a real estate investment company listed on the London Stock Exchange, the Stock Exchange of Mauritius, and the Johannesburg Stock Exchange. As a leading real estate investment firm on the continent, Grit focuses on investing and managing a comprehensive portfolio of diversified property assets in selected countries in Africa.
With a property portfolio spanning multiple asset classes including commercial offices, industrial and logistics, corporate accommodation, hospitality and retail properties in countries such as Ghana, Zambia, Kenya, Mauritius, Senegal, Morocco, Mozambique, and Botswana, the group uses strict risk parameters when considering investment opportunities. Grit, through its day to day business and Corporate Social Initiatives, is indirectly laying the foundation for the financial security of employees, NGOs, and schools through solid investments. By playing our part in deepening the real estate sector in countries of operation, we assist with the creation of sustainable jobs and improve the downstream income-generating ability of communities.
Long-term leases by blue-chip firms and multinational companies help to ensure the stability and growth of our company’s assets. The Group is focused on real estate investing that can ensure attractive total return growth in US dollars targeted at 12% per annum (based on a targeted dividend yield of 8.5% in US dollars and targeted NAV growth of 3.5%.) Note that these are targets which may be impacted by the long-term effects of COVID-19.
Our strategy is based on real estate investment, property development, asset management and co-investment. The group aims to reach 20% of GAV in terms of development over time. Note that this is a target and not a forecast. We look for direct investment opportunities with asset-management fees charged at the full asset value of the properties.
The Group is the first pan-African real estate income group, as well as the first firm based in Mauritius to have listed on the main market of the London Stock Exchange (July 2018). The history of the Group shows how our asset list has grown from only two to 46 investment properties as at HY2020. The ever-expanding portfolio of strategically located and high-valued properties in Africa underpins our Company’s claim of superb property-asset growth.
As a group, we understand the importance of human capital. As such, our team of professionals is carefully chosen to ensure that the necessary leadership, skills, innovative thinking and drive for customer satisfaction are applied for the best possible results in real estate investment and management thereof.
Our main categories for investment include:
- Commercial Offices
- Light industrial, logistics warehousing
- Corporate accommodation
Examples of commercial office properties include, but are not limited to:
- Hollard Building, Mozambique
- Capital Place, Ghana
- Absa House, Mauritius
On the retail front, our company owns shopping centres such as:
- Anfa Place Shopping Centre, Morocco
- Mukuba Mall, Zambia
- Mall de Tete, Mozambique
In the hospitality sector, Grit does not take any direct hospitality risk, but has partnered with international experts such as Lux, Beachcomber and Club Med on long-term, triple net leases. Grit owns Tamassa Resort in Mauritius as well as a 44.4%-ownership alongside New Mauritius Hotels of three resorts on the island. It more recently acquired the Club Med Cap Skirring resort on Senegal under a long lease from Club Med.
Imperial Warehouse and Bolloré Warehouse count among the light industrial properties while Acacia Estate and VDE Housing Estate fall in the corporate-accommodation category.
Comprehensive information is available regarding our real estate investing criteria, portfolio, and growth projections. Contact us for more information regarding investment and shareholding.