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Laptrust Imara I-REIT
On this page
Company details
- Legal name
- LAPTRUST Imara I-REIT
- Incorporated in
- Kenya
- Listing
- LAPR on the Nairobi Securities Exchange, active · ISIN KE9100008870 (observed 2026-10-07)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · annual report, final status not established · source
Read with these figures
- Annual report not confirmed as final. The published copy is undated. The FY2024 figures come from it.
Full wording and sources
Annual report for 2024: final status not established
Report of the independent auditor to the members of LAPTRUST IMARA I-REIT (RSM Eastern Africa LLP, unmodified opinion, PDF p64, scanned) closes with a handwritten signature above 'for and on behalf of RSM Eastern Africa LLP, Certified Public Accountants, Nairobi'; the engagement partner is named as CPA George Mutua, Practising Certificate No. A/0011; the date line is printed '.......... 2025' with the day and month left blank, reference 0071/2025 (PDF p66, render checked). The audit report is signed but not dated, so final status is not established. The statements were 'approved for issue by the Trustee on 25th March 2025' and carry handwritten signatures of David Ngaine (Chairman) and Nancy Noreh (Chief Executive Officer) of the REIT manager and Henry Karanja (Trustee, Compliance Officer, The Co-operative Bank of Kenya) (PDF p68, render checked).
Source: LAPTRUST Imara I-REIT 2024 Annual Report (dated 2025-03-25)
-
Revenue
Not reported in this filing
-
Operating profit / (loss)
KES 283 million
283,149,483 KES units · p67
+29.0% vs 2023
-
Profit / (loss) for the year
−KES 204 million
(204,303,471) KES units · p67
Moved from profit to loss (FY2023: 57,222,019 KES units)
-
Total assets
Not reported in this filing
-
Total equity
KES 6.45 billion
6,451,975,465 KES units · p68
−7.6% vs 2023
-
Cash from operations
KES 206 million
206,076,424 KES units · p70
−48.2% vs 2023
Large amounts are rounded for reading (KES million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in KES units unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — annual report, final status not established; reported for the year · source
- FY2023 — annual report, final status not established; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Rental income and related income1 | 479,064,788 | 305,183,474 |
| Other income from operations2 | 100,700,585 | 90,732,442 |
| Operating income3 | 579,765,373 | 395,915,916 |
| Property expenses4 | (65,217,948) | (47,872,634) |
| Fund operating expenses5 | (151,437,352) | (65,721,292) |
| Utility expenses6 | (79,960,590) | (62,844,890) |
| Operating expenses | (296,615,890) | (176,438,816) |
| Operating profit | 283,149,483 | 219,477,100 |
| Interest income | 70,728,232 | 25,107,100 |
| Fair value adjustment for investment property7 | (558,181,186) | (187,362,181) |
| Total(loss)/profit attributable to unit holders | (204,303,471) | 57,222,019 |
Notes and alternative reported figures (7)
- “Rental income and related income” is an issuer-specific line, not mapped to a shared definition: Note 5; the REIT's rental income (no revenue line is printed).
- “Other income from operations” is an issuer-specific line, not mapped to a shared definition: Note 6(a).
- “Operating income” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: rental income and related income plus other income from operations.
- “Property expenses” is an issuer-specific line, not mapped to a shared definition: Note 7; component of operating expenses.
- “Fund operating expenses” is an issuer-specific line, not mapped to a shared definition: Note 8; component of operating expenses.
- “Utility expenses” is an issuer-specific line, not mapped to a shared definition: Note 9; component of operating expenses.
- “Fair value adjustment for investment property” is an issuer-specific line, not mapped to a shared definition: Note 12; transferred to the non-distributable fair value reserve.
Balance sheet
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Trust capital1 | 6,924,628,260 | 6,924,628,260 |
| Fair value reserve2 | (745,543,367) | (187,362,181) |
| Retained earnings | 272,890,572 | 244,584,200 |
| Total equity | 6,451,975,465 | 6,981,850,279 |
| Investment property | 6,195,755,000 | 6,711,653,819 |
| Other financial assets3 | 104,732,886 | 50,664,900 |
| Non-current assets (unlabelled subtotal) | 6,300,487,886 | 6,762,318,719 |
| Trade and other receivables | 172,046,796 | 125,853,033 |
| Other financial assets4 | 49,967,693 | –5 |
| Cash and cash equivalents | 202,794,605 | 397,879,338 |
| Current assets (unlabelled subtotal) | 424,809,094 | 523,732,371 |
| Trade and other payables | 273,321,515 | 304,200,811 |
| Net current assets6 | 151,487,579 | 219,531,560 |
| Net assets (unlabelled total)7 | 6,451,975,465 | 6,981,850,279 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (6)
- “Trust capital”: mapping to a shared definition is uncertain. Printed 'Trust capital' (note 11): the units issued by the REIT.
- “Fair value reserve” is an issuer-specific line, not mapped to a shared definition: Non-distributable reserve of cumulative investment property fair value adjustments (statement of changes in equity, p69); not an FVOCI reserve.
- “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 13; government securities (cash flow 'Purchase of Government securities').
- “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 13.
- “Net current assets” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: current assets less current liabilities (trade and other payables).
- “Net assets (unlabelled total)”: mapping to a shared definition is uncertain. Unlabelled closing total of the 'REPRESENTED BY' section (non-current assets plus net current assets), equal to total equity (p68).
Cash flow
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| (Loss)/profit for the year1 | (204,303,471) | 57,222,019 |
| Interest income2 | (70,728,232) | (25,107,100) |
| Fair value loss on investment property3 | 558,181,186 | 187,362,181 |
| Increase in: Increase in trade and other receivables4 | (46,193,763) | (125,853,033) |
| Decrease/(increase) in trade and other payables5 | (30,879,296) | 304,200,811 |
| Net cash generated from operating activities | 206,076,424 | 397,824,878 |
| Purchase of Government securities6 | (104,035,679) | (50,664,900) |
| Interest income7 | 70,728,232 | 25,107,100 |
| Purchase of investment property8 | (42,282,367) | (6,899,016,000) |
| Net cash used in investing activities | (75,589,814) | (6,924,573,800) |
| Distribution to unitholders9 | (325,571,343) | –10 |
| Proceeds from trust capital issued11 | –10 | 6,924,628,260 |
| Net cash (used in)/generated from financing activities | (325,571,343) | 6,924,628,260 |
| Net (decrease)/increase in cash and cash equivalents | (195,084,733) | 397,879,338 |
| Cash and cash equivalents at start of year | 397,879,338 | –12 |
| Cash and cash equivalents at end of year | 202,794,605 | 397,879,338 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
- Printed “-”; reading unresolved, so no amount is shown. 2023 cell printed '-' (the REIT's first period: cash at end of 2023 equals the 2023 net increase, 397,879,338, p70); no printed subtotal contains this line, so the dash is left unresolved.
Notes and alternative reported figures (10)
- “(Loss)/profit for the year” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Interest income” is an issuer-specific line, not mapped to a shared definition: Note 6; operating activities adjustment (deducted).
- “Fair value loss on investment property” is an issuer-specific line, not mapped to a shared definition: Note 12; operating activities adjustment.
- “Increase in: Increase in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working capital.
- “Decrease/(increase) in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working capital; label as printed (the 2024 figure is negative, the 2023 positive).
- “Purchase of Government securities” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Interest income”: mapping to a shared definition is uncertain. Printed 'Interest income' within investing activities (p70): interest received.
- “Purchase of investment property” is an issuer-specific line, not mapped to a shared definition: Note 12; investing activities.
- “Distribution to unitholders”: mapping to a shared definition is uncertain. Distributions paid to unitholders of the REIT (p70).
- “Proceeds from trust capital issued” is an issuer-specific line, not mapped to a shared definition: Note 11; financing activities.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2024 | Dividends paid (cash flow statement) | Distribution to unitholders |
(325,571,343) | KES units | Annual report, p70 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Distribution to unitholders |
0printed “–”, read as nil | KES units | Annual report, p70 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
LAPTRUST Imara I-REIT 2024 Annual Report
Year ended 31 December 2024 · Annual report · final status not established
Audit: RSM Eastern Africa LLP, unmodified opinion · signed
Auditor's sign-off: RSM Eastern Africa LLP, Certified Public Accountants, Nairobi; engagement partner CPA George Mutua (handwritten signature)
Final status: Report of the independent auditor to the members of LAPTRUST IMARA I-REIT (RSM Eastern Africa LLP, unmodified opinion, PDF p64, scanned) closes with a handwritten signature above 'for and on behalf of RSM Eastern Africa LLP, Certified Public Accountants, Nairobi'; the engagement partner is named as CPA George Mutua, Practising Certificate No. A/0011; the date line is printed '.......... 2025' with the day and month left blank, reference 0071/2025 (PDF p66, render checked). The audit report is signed but not dated, so final status is not established. The statements were 'approved for issue by the Trustee on 25th March 2025' and carry handwritten signatures of David Ngaine (Chairman) and Nancy Noreh (Chief Executive Officer) of the REIT manager and Henry Karanja (Trustee, Compliance Officer, The Co-operative Bank of Kenya) (PDF p68, render checked).
- Document date
- 25 Mar 2025
- Auditor's report
- date left blank in this document
- Board approval
- 25 Mar 2025
- Retrieved by us
- 17 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- company statements · KES units (printed “KSh”)
- Earnings per unit is printed as '(0.59)' (2023: 0.17) without a unit (p67); not transcribed.
- REIT format: no revenue line ('Rental income and related income' plus 'Other income from operations' = 'Operating income'), no finance costs and no taxation line; profit is printed as 'Total (loss)/profit attributable to unit holders' (p67). The statement of financial position prints equity first and then 'REPRESENTED BY' non-current assets, current assets, current liabilities (trade and other payables only) and net current assets, with unlabelled subtotals and an unlabelled total equal to total equity; no total assets or total liabilities line (p68).
- The 2023 comparative appears to be the REIT's first period of operation: cash and cash equivalents at start of 2023 are '-' and trust capital of KSh 6,924,628,260 was issued in 2023 (p70). The document does not state the comparative period's start date; the column is headed '2023'. The statement of changes in equity heads its first block 'At 1st January 2024 ... At 31st December 2024' for the 2023 movements (p69), as printed.
Technical details
- File
- 84 pages, with a text layer
- SHA-256
28588eaadadd04d1743ba6e615d90cfa4147b31a591a909269cde7560d078a25- Entity as printed
- LAPTRUST IMARA I-REIT (the 'REIT'), a closed ended REIT managed by Sterling REIT Asset Management Limited (PDF p64, p71)
- Issuer copy
- retrieved 2026-10-17T13:53:43Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.