Diversified Financial Services Group UAP Old Mutual today announced a regional combined real estate portfolio worth over Ksh 25 billion, giving investors exposure to different property markets across Eastern and Central Africa.
Following the successful merger of UAP and Old Mutual in 2015, the group has a presence in the Kenyan, Ugandan and South Sudan and Rwandan property markets owning a total of 14 properties.
UAP Old Mutual Group Asset Management managing director Patricia Kiwanuka said that the combined portfolio of high-quality building properties will offer investors in the region rental returns in more than one currency, thereby reducing risk while maximizing return.
“Investors will benefit from the expanded property portfolio through exposure to different markets that will in turn offer high returnsthat are in both Kenyan Shillings and US dollars. Additionally the investors stand to gain from combined investment experience and lower costs through shared services,” said Ms. Kiwanuka.
The group has additionally announced that the iconic UAP Old Mutual Tower, the highest building to dot the Nairobi skyline, is ready for occupation.
“The UAP Old Mutual Tower is a testament of the Group’s commitment to investing in East and Central Africa as a dominant diversified financial services group” added Patricia.
UAP Old Mutual Tower is a 33-storey commercial building in the Upperhill financial district of Nairobi City and at Sh4 billion is thegroup’s biggest property investment to date.
Going forward the group plans to invest in high rent yielding mixed developments in Kenya, Uganda and Rwanda.