RCS - Grit Real Estate Inc - Update from QuotedData

Grit Real Estate IncomeAnnouncement

27/09/2023 13:15

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RNS Number : 8715N  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/
(https://quoteddata.com/research/grit-real-estate-income-group-grit-2-0-qd/)

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NB: Marten & Co was paid to produce this note on Grit Real Estate Income
Group and it is for information purposes only. It is not intended to encourage
the reader to deal in the security or securities mentioned in this report.
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