Grit Real Estate Income Group Update from QuotedData

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Grit Real Estate Income Group

27 September 2023

Grit Real Estate Income Group - Update from QuotedData

27(th) September 2023

Grit 2.0

Having concluded its acquisition of a leading property developer and asset manager, pan-African property company Grit Real Estate Income Group (Grit) has been reborn. Grit 2.0 has a greater and more achievable return target (of between 12% and 15% per annum) thanks to the controlling stake it now owns in Gateway Real Estate Africa (GREA) and its attractive pipeline of net asset value (NAV) accretive, risk-mitigated development projects - most notably diplomatic residences across the continent that are let to the US government.

Ongoing asset recycling - away from the retail and hospitality sectors - has shored up its balance sheet, while creative means of raising additional capital should secure the substantial development pipeline and plot a way to ongoing, sustainable returns and growing, resilient income. A new line of revenue through the fee income earned from the property asset management business adds further robustness to its earnings and supports its dividend.

Full Research:

https://quoteddata.com/research/grit-real-estate-income-group-grit-2-0-qd/

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September 27, 2023 08:00 ET (12:00 GMT)