UACN Property Development Company (UPDC) on Monday published its financial report for the year ended 31 December 2020.
The group reported a turnover of N1.66 billion, down by 22.95% from the turnover of N2.16 billion reported in 2019.
A loss after tax of N605.92 million was declared by the Group which is actually an improvement from the loss of N15.88 billion reported the previous year.
UPDC is now a subsidiary of Custodian Investment Plc upon the completion of acquisition of 51% stake in UAC of Nigeria Plc by Custodian Investment Plc.
Founded in 1997, UPDC PLC is a seasoned development company in Nigeria with an established record in developing, selling, and managing real estate assets across Nigeria. Known for the quality of its products, UPDC is the first real estate company to have been listed on the Nigerian stock exchange, and offers the most diversified portfolio of residential, commercial, retail, and hospitality assets.