Grit Real Estate Income Group's Robust 2024 Performance and Strategic Initiatives

Grit Real Estate Income Group Limited, a prominent Pan-African real estate entity, released unaudited consolidated results for the six months ending December 31, 2024. The company reported a 13% increase in its net operating income, primarily driven by contributions from data centres and healthcare sectors. This growth aligns with Grit's strategic acquisition of GREA, consolidated since November 2023.

Despite a decrease in the fair value of investment properties, the Group maintained a strong occupancy rate of 90.62%. The company’s focus on quality assets, predominantly underpinned by hard currency leases, shields it from currency fluctuations and positions it well for future growth.

Operational challenges, a result of a volatile macroeconomic environment and geopolitical tensions in Mozambique, impacted the Group's financial metrics, including a 12.4% fall in EPRA NRV per share. Nonetheless, Grit's cost-reduction measures have seen administrative costs decrease as a percentage of income-producing assets, part of wider efforts to reach strategic efficiency goals.