About The UPDC REIT
UACN Property Development Company (“UPDC” or the “Company”), a foremost, wholly
indigenous, property development company in the Nigerian real estate market is currently
promoting the N30 billion UPDC Real Estate Investment Trust (“UPDC REIT”). The Offer is
one of the strategic initiatives being taken by the Company in line with its growth aspirations
and also in a bid to deepen the Nigerian REIT market.
3 billion units of the UPDC REIT are now being offered to the public at the par value of N10 per unit, with a minimum investment of 10,000 units (i.e. N100,000). Stanbic IBTC Bank PLC and BGL Plc are acting as Lead Issuing House and Co-Issuing House respectively to the Offer, which opened to the public on Tuesday, 19 February 2013 and closes on Thursday, 28 March 2013.
The UPDC REIT is a close-ended Trust, authorized and registered with the Securities and
Exchange Commission as a Collective Investment Scheme. The primary objective of the
UPDC REIT is to provide Unit-holders with stable cash distributions from investment in a
diversified portfolio of real estate properties. It is intended that at least 90% of the REIT’s
income will be distributed to Unit-holders. The REIT will invest a minimum of 75% in Real
Estate. A maximum of 25% may be invested in Real Estate Related Assets with no more
than 10% held in liquid assets. The REIT will be listed on the main board of The Nigerian
Stock Exchange and its units will be traded, thereby providing liquidity for Unit-holders.
Investing in the UPDC REIT provides an opportunity for individual and institutional investors
to invest in a diversified portfolio of real estate properties and participate in the income
distribution derivable from the portfolio of real estate assets. Investors will benefit from the
superior quality of the real estate portfolio to be vested in the UPDC REIT as well as highly
competent members of the investment committee comprising seasoned real estate experts
with a wealth of experience spanning decades. Investment in the UPDC REIT assures stable
returns as the UPDC REIT properties are strategically located and have historically enjoyed
well over 95% occupancy rate from a base of high quality corporate and individual clients.
For more information, please click on the link below to download the Prospectus. The
Prospectus contains an application form, which can be used for your subscription to the
Offer. Your completed application form should be submitted to any branch of Stanbic IBTC
or any of the Receiving Agents listed on the Prospectus, accompanied by a cheque or bank
draft made payable to “Stanbic IBTC Bank PLC”, and crossed “UPDC REIT IPO”, for the
full amount payable for your subscription. Please note that payments for sums exceeding N10 million should be made via RTGS or NEFT into the UPDC REIT IPO A/C: APL
DOWNLOAD UPDC REIT - Complete Prospectus
DOWNLOAD UPDC REIT - Abridged Prospectus
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