Real estate investment trust LAPTRUST Imara I-REIT will delay the publication of its 2023 financials until May 31st 2024, following an extension granted by the Capital Markets Authority (CMA).
According to a notice by the organization’s trustee, Co-operative Bank of Kenya to unitholders and the general public, the publication of the listed real estate investment trust’s financials was due at the end of March.
The trust’s unaudited financial statements for the six months ended 30th June 2023 show a profit was KSh 99.6 Million. Its assets under management stood at KSh 7.2 Billion comprising of seven properties with a market value of KSh 6.8 Billion and cash amounting to KSh 318 Million.
The REIT scheme provides unit holders stable cash inflows from the income-generating real estate properties. The first REIT in Kenya was approved by the Capital Markets Authority in October 2015. That REIT was issued by Stanlib Kenya under the name Fahari I-Reit scheme.
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