UPDC REIT succumbs to vacancy pressures as profit slumps 49%

UPDC REIT succumbs to vacancy pressures as profit slumps 49%

UPDC Real Estate Investment Trust (UPDC REIT) profit after tax dropped 49 per cent to N1.1 billion in 2016 from N1.61 billion the previous year, denting the income prospects that were presented at the time of the initial public offer of the REIT. “The performance of the UPDC REIT was affected negatively by the challenging…

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