Review pending. 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 has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
UH REIT
On this page
Company details
- Legal name
- UH Real Estate Investment Trust
- Listing
- UHOMREIT on the Nigerian Exchange, active · ISIN NGUHOMREIT06 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · audited financial statements, signed / final · source
-
Investment income
NGN 1.28 billion
1,277,776 NGN thousands · p18
+44.5% vs 2023
Real estate investment trust: its top line is printed as 'Investment income' (p18); not presented as revenue.
-
Net income after taxation
NGN 1.05 billion
1,045,134 NGN thousands · p18
+59.3% vs 2023
Printed as 'Net income after taxation' (p18).
-
Total assets
NGN 12.6 billion
12,627,736 NGN thousands · p19
+5.5% vs 2023
Printed 'Total assets' (p19).
-
Investment properties
NGN 9.97 billion
9,968,727 NGN thousands · p19
−0.7% vs 2023
Printed 'Investment properties' (p19), the trust's main asset.
-
Net assets
NGN 10.7 billion
10,687,160 NGN thousands · p19
+4.4% vs 2023
Printed 'Net assets' (p19).
Large amounts are rounded for reading (NGN 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 NGN thousands 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 — audited financial statements, signed / final; reported for the year · source
- FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Investment income1 | 1,277,776 | 884,278 |
| Operating expenses | (220,503) | (207,470) |
| Net income before taxation | 1,057,273 | 676,808 |
| Taxation | (12,139) | (20,679) |
| Net income after taxation | 1,045,134 | 656,129 |
| Net increase in unit holder's fund from investment activities2 | 1,045,134 | 656,129 |
Notes and alternative reported figures (2)
- “Investment income” is an issuer-specific line, not mapped to a shared definition: Note 3: rental income, interest income, profit on disposal of property and other income of the REIT, printed as one line.
- “Net increase in unit holder's fund from investment activities”: mapping to a shared definition is uncertain. The statement is headed 'Statement of comprehensive income (total return)' and prints no other comprehensive income; this closing line equals the net income after taxation.
Balance sheet
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Cash and cash equivalents | 2,088,470 | 1,362,909 |
| Financial assets at amortized cost | 405,210 | 414,818 |
| Other assets | 5,658 | 5,925 |
| Trade and other receivables | 103,452 | 101,364 |
| Plant & equipment | 56,219 | 50,860 |
| Total current assets | 2,659,009 | 1,935,876 |
| Investment properties | 9,968,727 | 10,039,084 |
| Total assets | 12,627,736 | 11,974,960 |
| Rent received in advance1 | 359,084 | 279,702 |
| Accruals and other payables | 1,573,157 | 1,452,972 |
| Total current liabilities | 1,932,241 | 1,732,674 |
| Rent received in advance2 | 8,335 | 7,660 |
| Total liabilities | 1,940,576 | 1,740,334 |
| Net assets | 10,687,160 | 10,234,626 |
| Unit holders' equity3 | 9,406,353 | 9,406,353 |
| Retained earnings | 1,280,807 | 828,273 |
| Unit holders' fund | 10,687,160 | 10,234,626 |
Notes and alternative reported figures (3)
- “Rent received in advance” is an issuer-specific line, not mapped to a shared definition: Note 12, current portion.
- “Rent received in advance” is an issuer-specific line, not mapped to a shared definition: Note 12, non-current portion.
- “Unit holders' equity”: mapping to a shared definition is uncertain. Units issued (unit holders' capital of a REIT), printed as 'Unit holders' equity'.
Cash flow
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Operating profit before working capital changes1 | 1,082,374 | 698,595 |
| Working capital changes2 | 202,063 | 215,019 |
| Income tax paid | (12,139) | (20,679) |
| Net cash flow from operating activities | 1,272,298 | 892,935 |
| Disposal/(additions) development of investment in properties3 | 70,357 | (219,025) |
| Purchases of PPE | (28,733) | (15,591) |
| Investment in money market4 | 9,608 | 563,717 |
| Net cash flow from investing activities | 51,232 | 329,101 |
| Dividend paid | (592,600) | (395,067) |
| Net increase/(decrease) in cash and cash equivalents | 725,561 | 826,969 |
| Cash and equivalents brought forward | 1,362,909 | 535,940 |
| Cash and cash equivalents at the end of the year | 2,088,470 | 1,362,909 |
Notes and alternative reported figures (4)
- “Operating profit before working capital changes” is an issuer-specific line, not mapped to a shared definition: Note 16.1.
- “Working capital changes” is an issuer-specific line, not mapped to a shared definition: Note 16.ii: net movement in working capital.
- “Disposal/(additions) development of investment in properties” is an issuer-specific line, not mapped to a shared definition: Investing activities: net of disposals and development additions of investment properties.
- “Investment in money market” is an issuer-specific line, not mapped to a shared definition: Investing activities: net movement in money-market placements.
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) | Dividend paid |
(592,600) | NGN thousands | Audited financial statements, p22 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividend paid |
(395,067) | NGN thousands | Audited financial statements, p22 |
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.
-
UH Real Estate Investment Trust (formerly) Union Homes Real Estate Investment Trust Reports and Financial Statements for the year ended 31 December 2024
Year ended 31 December 2024 · Audited financial statements · signed / final
Audit: Baker Tilly Nigeria (Chartered Accountants), unmodified opinion · signed
Auditor's sign-off: Oluwole O. Ogundeji, FRC/2013/PRO/ICAN/004/00000002825, for Baker Tilly Nigeria
Final status: Auditor's report (scanned pages 15-17) with a handwritten signature of Oluwole O. Ogundeji (FRC/2013/PRO/ICAN/004/00000002825) for Baker Tilly Nigeria, dated Lagos, 25 March, 2025, with the ICAN seal (PDF p17, page image). Statements approved by the Board of Directors (of the fund manager) on 25 March, 2025; the signature lines on p19 carry typed names only in the text layer.
- Document date
- 25 Mar 2025
- Published
- 28 Mar 2025
- Auditor's report
- 25 Mar 2025
- Board approval
- 25 Mar 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- company statements · NGN thousands (printed “N'000”)
- Printed as 'UH REAL ESTATE INVESTMENT TRUST (formerly) UNION HOMES REAL ESTATE INVESTMENT TRUST' (PDF p1); directory name 'UH REAL ESTATE INVESTMENT TRUST'. Same scheme: 'formerly' printed.
- Statement of cash flows, 2024 (p22): the printed net cash flows from operating (1,272,298) and investing (51,232) activities and the dividend paid ((592,600)) sum to 730,930, but the printed net increase in cash is 725,561 (difference 5,369); opening (1,362,909) plus 725,561 gives the printed closing 2,088,470, which equals the balance-sheet cash. Figures kept as printed, compared on the page render. 2023 adds up.
- Plant & equipment (56,219; 2023: 50,860) is printed inside current assets and within 'Total current assets' (p19). No non-current-assets subtotal, non-current-liabilities subtotal, total equity and liabilities, or financing subtotal is printed; total liabilities are printed in brackets and deducted from total assets to give net assets (p19).
Technical details
- File
- 43 pages, with a text layer
- SHA-256
82db0424fc74f6e34cbaad47e13e07b9180ccca34bd829985e0304af97da5ea4- Entity as printed
- UH Real Estate Investment Trust (formerly Union Homes Real Estate Investment Trust)
- Exchange copy
- retrieved 2026-10-08T18:05:35Z
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.