Euromoney Global Real Estate Awards 2023: Africa’s best overall developer – Grit Real Estate Income Group
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Awards

Euromoney Global Real Estate Awards 2023: Africa’s best overall developer – Grit Real Estate Income Group

Grit Real Estate Income Group is a pan-African real-estate company with a portfolio of assets across the region.

In December 2022, it concluded the final phase of its acquisition of controlling interests in developer Gateway Real Estate Africa (GREA) and asset manager APDM.

Since its phased acquisition, GREA has completed several developments, including Adumah Place in Ghana, ADC data centre in Nigeria and Rossly Grove US embassy accommodation in Kenya.

The acquisition means that Grit now has a direct interest of over 51% in GREA and nearly 79% in APDM.

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Bronwyn Knight

Bronwyn Knight, chief executive of Grit, says: “Concluding the acquisition of controlling interests in GREA and APDM are significant milestones towards our Grit 2.0 vision of setting global benchmarks in Africa.”

She adds that the acquisitions support the company’s "ongoing transition towards a more resilient, accretive and African impact-focussed asset base.”

In 2022, the group completed the sale and leaseback of Orbit Africa in Nairobi, Kenya, a warehousing and manufacturing facility.

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