In June 2013, UACN Property Development Company (UPDC) (now UPDC Plc) sponsored a closed-ended property fund known as UPDC Real Estate Investment Trust (UPDC REIT) by issuing 3,000,000,000 units at N10 each and subsequently listed same the Nigerian Stock Exchange and regulated by the Securities and Exchange Commission (SEC).

The units were fully subscribed and UPDC REIT became the largest REIT in Nigeria thereby creating rear opportunities of earning stable income for all units holders (institutional and retail investors) in form of cash distribution while preserving the capital over a long term.

Over the past nine (9) years of its existence, the managers of the UPDC REIT have consistently fulfilled their mandate and objectives by ensuring stable cash distribution of 90% of the net income as dividends from return on investment in a diversified portfolio of income-producing real estate assets. UPDC REIT currently invests in residential, commercial as well as purpose-built student and UPDC Plc act as both the property and asset managers.
ictoria Mall Plaza 1 and 2 on Bishop Aboyade Cole Street Victoria Island Lagos
Pearl Hostel within Pan Atlantic University Ibeju Lekki Lagos
UAC Complex Abuja
Kingsway Building on Marina Lagos
  • Setting clear performance benchmarks for UPDC REIT assets.

  • Improving the financial performance of the existing assets by repositioning all the assets and streamlining operations to reduce expenses, increase income and improve their values.

  • Redeveloping assets with high growth potentials based on Highest and Best Use analysis.

  • Adopting asset and property management strategies towards realizing the highest and most consistent sources of revenue, reducing expenditures whenever possible and managing identified risk ( contractual, tenant, statutory risk)

  • Management of the entire tenancy life cycle of tenants in all the properties (from tenant selection; onboarding, contract management as well as exit management).

  • Property assessment and repositioning (periodic assessments of the internal and external parts of the building with a view to attending to all maintenance-related issues; periodic market surveys of similar properties within the immediate vicinity with a view to keeping abreast of the current market rates which will add toward periodic rent adjustments.

  • Victoria Mall Plaza 1 and 2 on Bishop Aboyade Cole Street Victoria Island Lagos.

  • Abebe Court along Bourdillion Road Ikoyi Lagos.

  • Kingsway Building on Marina Lagos.

  • UAC Complex in

  • Pearl Hostel within Pan Atlantic University Ibeju Lekki Lagos

reach out to us

Whatever your concern is, kindly reach out to us and we would attend to you.
Our Hotlines:
UPDC Reception: +234 901 000 3019
Sales, Marketing & Leasing: +234 901 000 3018
Facility Management: +234 901 000 3020
Office Management: +234 901 000 3017
× How can we help you?