Qwetu, Qejani Operator Posts KSh1.52bn Profit Despite Rental Pressures
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Kenya’s largest student housing operator grew profit even as rental income softened. Lower borrowing costs and expansion into new university towns helped offset market challenges
Acorn Investment Management, the operator behind Kenya’s Qwetu and Qejani student accommodation brands, reported a combined net profit of KSh1.52 billion in 2025 across its two REITs. The performance came despite a slight decline in rental revenue, driven largely by disruptions in university academic calendars and softer occupancy in some locations. However, significant refinancing efforts reduced borrowing costs and boosted profitability. Assets under management grew to KSh29.3 billion as the company expanded its footprint beyond Nairobi into emerging university towns. The results highlight growing investor confidence in purpose-built student housing, a niche increasingly viewed as one of East Africa’s most resilient real estate asset classes