Afriland Properties Targets Growth Across Real Estate Value Chain

Afriland Properties Plc has reaffirmed its long-term growth ambition with a renewed focus on unlocking opportunities across the real estate value chain, following financial performance and sustained shareholder returns.

For the half-year ended June 30, 2025, the company’s board approved the payment of an interim dividend of 13 kobo per share, amounting to ₦178.6m, underscoring what it described as confidence in its strategy and resilience.

This follows Afriland’s 2024 financial results, where profit after tax rose by 51 per cent to ₦2.6bn, while profit before tax climbed 53 per cent to ₦3.7bn compared with ₦2.41bn in the previous year.

Operating profit also advanced by 47 per cent to ₦3.5bn, buoyed by steady growth in project development, management services, rental income, and revaluation gains on investment properties.

The board subsequently proposed a final dividend of ₦865.56m, translating to 63 kobo per share—a 152 per cent increase from the ₦343.5m distributed in 2023.

Speaking at the company’s 12th Annual General Meeting (AGM), held virtually, Chairman of the Board Mr Emmanuel Nnorom described the results as a demonstration of strategic execution and disciplined growth.

“Afriland’s exceptional 2024 financial year was driven by deliberate execution and disciplined growth. These results speak to the strategic initiatives implemented throughout the year and the relentless efforts of our management team.

“We scaled operations across core business areas, enhanced asset value, and delivered meaningful returns despite macroeconomic headwinds,” Nnorom said.

Also commenting, the Managing Director/Chief Executive Officer, Mr Azubike Emodi, attributed the strong performance to operational efficiency and team dedication, adding that the company remains focused on deepening market relevance through smart and scalable developments.

“These numbers demonstrate the strength of our business model and the dedication of our team. We are sharpening our execution, accelerating project turnaround, and deepening market relevance.

“A prime example is Afriland Estate, Karmo, a thoughtfully designed residential community in Abuja that embodies our capacity to deliver modern, efficient, and sustainable living environments,” Emodi stated.

Looking ahead, the company emphasised its ambition to broaden its project pipeline, noting that its strategic intent is to capture new opportunities across the real estate value chain and reinforce its position as a leading player in Nigeria’s property sector.