Chapel Hill Denham Administration Restricted has achieved a significant milestone in Nigeria’s property-backed securities market with the Itemizing by Introduction of 1.59 billion items of its Nigeria Actual Property Funding Belief (NREIT) on the Foremost Board of the Nigerian Alternate Restricted (NGX).
The itemizing, which took impact at present, December 31, 2025, represents one of many largest REIT admissions on the Alternate and marks a big step in deepening actual property funding alternatives for institutional and retail traders.
The items had been listed at N103 per unit, giving the fund an implied market worth of N163.6 billion underneath the N400 billion NREIT Issuance Programme.
What the itemizing particulars present
Based on the NGX bulletin signed by the Head of Issuer Regulation, Godstime Iwenekhai, the listed fund carries the buying and selling image NREIT, with ISIN NGCHDNREIT00, and might be traded underneath the identify Nigeria Actual Property Funding Belief Fund.
Key events to the transaction embrace:
- Fund Supervisor: Chapel Hill Denham Administration Restricted
- Stockbrokers: Chapel Hill Denham Securities Restricted
- Issuing Home: Chapel Hill Denham Advisory Restricted
- Joint Trustee: Stanbic IBTC Trustees Restricted
- Custodian: Rand Service provider Bank Nigeria Restricted
- Registrar: Coronation Registrars Restricted
The itemizing by introduction implies that the items weren’t provided to the general public on the time of itemizing however had been admitted primarily based on current investor holdings and regulatory approvals underneath the N400 billion issuance programme.
What the itemizing means for Nigeria’s property funding market
The admission of the Chapel Hill Denham NREIT is anticipated to develop the depth of Nigeria’s various funding panorama at a time of rising urge for food for income-generating belongings.
The NREIT, structured to supply secure returns by diversified revenue from actual property belongings, presents traders a chance to realize publicity to the property market. That is made potential with out the excessive capital necessities and illiquidity related to direct actual property possession.
The NGX confirmed that the itemizing covers Sequence 1 to 4 of the programme, with a complete of 1,588,617,222 items registered at a nominal worth of N100 every however listed at a premium of N103.
Market analysts notice that the itemizing may enhance liquidity within the REITs section of the market, which has seen renewed regulatory help and elevated investor curiosity in 2025.
Implications for the Capital Market
The itemizing comes at a time when traders are in search of inflation-protective belongings, notably in actual property—one of many strongest-performing various asset lessons in 2025. Market watchers say the transfer reinforces the NGX’s push to draw extra actual estate-backed devices and strengthen capital formation for property growth throughout the nation.
Funding consultants additionally take into account the NREIT itemizing important for Chapel Hill Denham, which has been increasing its footprint in infrastructure, actual property, and various funding administration.
With structured oversight involving main trustees, custodians, and registrars, the NREIT is anticipated to supply transparency, governance, and liquidity—key parts institutional traders demand.
What you must know
The REIT presents traders publicity to diversified property belongings with potential for secure revenue. The itemizing strengthens the NGX’s portfolio of actual property funding automobiles and gives one other channel for mobilising long-term capital into Nigeria’s actual property sector.
Actual Property Funding Trusts (REITs) are structured to permit traders to take part in massive, income-generating property belongings without having to purchase property immediately. This implies retail and institutional traders can achieve publicity to business and residential actual property by way of tradable securities on the inventory trade.
Fractional possession lowers the entry barrier, enabling traders with modest capital to participate in the actual property market. In contrast to direct property purchases that require massive upfront sums and ongoing administration, REIT items may be purchased and bought simply on the NGX, bettering accessibility and liquidity relative to conventional actual property.
As a Securities and Alternate Fee licensed Actual Property Funding Scheme, returns on investments as annual distribution are not lower than 75% of its rental revenue or dividend revenue to unit holders.
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