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Acorn student hostel REITs triple profit to Sh1.4b in 2024

Summary by The Standard
Acorn’s combined portfolio of operating and development-stage student beds now stands at 21,000.

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The StandardThe Standard
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Acorn student hostel REITs triple profit to Sh1.4b in 2024

Acorn’s combined portfolio of operating and development-stage student beds now stands at 21,000.

·Nairobi, Kenya
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peopledaily.digitalpeopledaily.digital

Hostels developer reports Sh1.4b net profits in 2024

Acorn Investment Management Ltd (AIML) has reported a robust financial performance for the year ended December 31, 2024, with net profit soaring nearly threefold to Sh1.4 billion from Sh467 million in 2023. The nearly 200 per cent growth was fueled by the strong rebound of the Acorn Student Accommodation Development REIT (ASA D-REIT), whose profitability […]

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Business Today KenyaBusiness Today Kenya

Student Accommodation Provider Triples Profit

Despite operating in a tough business environment, the ASA REITs have continued to demonstrate resiliency, underscoring the strength of their underlying assets and the robustness of the business strategy.

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The Standard broke the news in Nairobi, Kenya on Thursday, March 27, 2025.
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