The ASA I-REIT had a semi-annual net income of Kshs. 1113 million for the six months ended 30 June 2023. Key performance highlights:

• The main revenue stream is the residential revenue from the students with other income being extras from the student services offered by the operating properties.

• The costs are categorized in property operating and administrative expenses which are directly attributable to the properties and the fund level costs. Finance costs relates to a Kshs 750 million short term debt facility procured in October 2022.

• As at 30 June 2023, total assets under management stood at Kshs 7.33 billion.