Prime Business Africa
Shareholders of five real estate companies on the Nigerian Exchange (NGX), also known as the stock market, gained N75.25 billion between January 2, 2025, and December 31, 2025.
There are seven real estate companies listed on the NGX: UPDC Plc, UPDC Real Estate Investment Trust (UPDC REIT), Union Homes Real Estate Investment Trust (UHOM REIT), Nigeria Infrastructure Debt Fund (NIDF), Haldane McCall (HMCall), Julius Berger Nigeria Plc, and SFS Real Estate Investment Trust (SFS REIT).
Join our WhatsApp ChannelOnly shareholders of Haldane McCall (HMCall) and Julius Berger Nigeria Plc recorded a decline in their investments during the period under review, according to Prime Business Africa’s analysis.
Despite the losses recorded by McCall and Julius Berger’s shareholders, analysis showed that the industry’s market valuation on the NGX increased from N456.62 billion to N525.40 billion.
FIVE BEST-PERFORMING REAL ESTATE STOCKS
UPDC Plc
UPDC Plc shareholders recorded the highest growth in their investments after recording 183.23 percent appreciation between January and December 2025.
- The appreciation earned UPDC’s shareholders a combined gain of N58.83 billion during the period under review, as a result of the company’s share price surging by N3.17 kobo, from N1.73 kobo to N4.90 kobo.
- This led to the construction firm’s market valuation on the bourse rising from N32.10 billion recorded at the start of last year to N90.94 billion at the end of the fourth quarter.
SFS REIT
SFS REIT took the second spot after the company’s shareholders’ investment appreciated by 133.35 percent, representing a combined gain of N4.78 billion within 12 months of last year.
- The gain was driven by the N239.3 kobo increase in SFS REIT’s share price, which skyrocketed to N418.75 kobo on December 31, 2025, compared to the N179.45 kobo the share was priced on January 2, 2025.
- Following the increase, SFS REIT ended last year with N8,37 billion market valuation, well above the N3,58 billion the company was valued at the start of 2025.
UHOM REIT
With a 41.66 percent gain in the investments held by shareholders in UHOMREIT, the company occupied the third spot of the best-performing real estate stocks.
- The 41.66 percent gain, which represents N3.81 billion combined gain, was as a result of equity traders pricing UHOMREIT’s shares at N51.85 kobo as of December 31, 2025, compared to the N36.60 kobo it was traded on January 2, 2025.
- Prime Business Africa gathered that the N15.25 kobo difference also raised the market valuation of Union Homes from N9.15 billion to N12.96 billion.
UPDC REIT
Occupying the fourth position is UPDC REIT, after the shareholders’ investments surged by 26.60 percent between January and December of 2025.
- Analysis showed that the traders in the stock market were bullish on the company’s shares, resulting in the value of the share rising from N5.45 kobo to N6.90 kobo during the period under review.
- With the share price rising by N1.45 kobo, the shareholders recorded N3.86 billion combined gain, and UPDC REIT’s market valuation increased from N14.54 billion to N18.41 billion.
NIDF
The Nigeria Infrastructure Debt Fund is the only company that recorded single-digit growth in shareholders’ investments, according to Prime Business Africa’s analysis.
- It was gathered that the investments held by the NIDF shareholders appreciated by 2.95 percent, representing a combined gain of N3.94 billion, after the firm’s share price increased marginally from N111.70 kobo to N115.
- Also, following the N3.3 kobo increase in the share price, NIDF’s market valuation jumped from N133.63 billion at the start of Q1 2025 to N137.58 billion at the end of Q4 last year.
Key takeaways
- Julius Berger’s shareholders recorded a combined loss of N3.76 billion, and the company’s market valuation decreased from N248.4 billion to N244.64 billion.
- Shareholders of Haldane McCall recorded a combined loss of N2.71 billion, and the real estate firm’s market valuation dropped from N15.20 billion to N12.48 billion.
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