Narrative Update • Apr 28
SFS Real Estate Investment Trust Delivers Strong FY 2025 Performance Driven by Fair Value Gains and Portfolio Expansion
Executive Summary Analyst: Qudus Adebara (Research Analyst, DLM Securities) SFS Real Estate Investment Trust (REIT) recorded a robust financial performance for the year ended 31 December 2025, driven by strong fair value gains on investment properties and steady rental income growth. Total income increased by 29% YoY to ₦717.4 million, supported by improved rental income and higher gains from disposal of investment properties.