Texaf: rental income up 3.9% in the third quarter, only +0.4% over nine months
Texaf published its third-quarter business update on October 30, 2026. Its rental income, the group's main segment, rose 3.9% year on year to €8.0 million. This increase follows a second quarter marked by a decline in occupancy, which limits growth to 0.4% over the first nine months.
The group, all of whose activities are located in the Democratic Republic of the Congo, also indicated that its two property projects are progressing according to the planned schedule. The quarry segment recorded a quarterly decline in revenue, linked to a partial production shutdown planned to modernize the facility.
Rents up 3.9% driven by indexation and occupancy
In the third quarter of 2026, Texaf recorded €8.0 million in rental income. The company attributes this 3.9% increase to three factors: rent indexation above 2%, residential occupancy rate back close to 100%, and the leasing of warehouses that were vacant a year earlier.
The cumulative figures present a different picture. Over the first nine months of the year, rental income grew by 0.4%, a trend that the group says was held back by lower occupancy in the second quarter of 2026.
The third quarter therefore marks a return to growth following the decline in occupancy. The mechanism is direct for a property company: at constant portfolio size, indexation and the filling of space translate immediately into collected rents.
“Quartier des Parcs” and “Jardins de Kinsuka” progress on schedule
Texaf confirmed that the “Quartier des Parcs” project is progressing in line with its schedule and budget. It is expected to bring 33 new housing units to the market, with first rental income anticipated in the second quarter of 2027.
At the time of its half-year results publication on September 7, 2026, the group had detailed this program (19 villas and 14 apartments) and mentioned an annual rental potential of €2.6 million. This amount should be compared with the €8.0 million in rental income recorded in the third quarter alone.
In property development, Texaf recorded reservations, each confirmed by a deposit, for 13 of the 42 villas in the first phase of the “Jardins de Kinsuka” project. The group states that this pace is in line with the planned marketing schedule.
At the publication on September 7, 2026, 10 housing units were reserved with deposits received. Construction of the first houses is due to begin in the fourth quarter of 2026, on a 87-hectare plot located about ten kilometers from the Utexafrica concession.
Quarry: volumes down 26%, average price up 19%
Quarry revenue amounted to €1.3 million in the third quarter of 2026, down 12% year on year. Texaf explains this decline by a partial production shutdown planned to commission a new tertiary crusher and a single screen.
Sales volumes fell by 26%, while the average selling price rose by 19%. Over the first nine months, Carrigrès' revenue shows a 12% increase compared with the same period of 2025.
This modernization had been announced on September 7, 2026: the group then presented the installation of the new screen as a means of optimizing the production chain in the second half of the year. The sandstone quarry operated in Kinshasa has a nominal capacity of 600,000 tonnes.
In the digital sector, Silikin Village reports occupancy close to 100% for private offices, and an increase for other spaces. Management fees rose by 21% year on year, to €0.35 million.
The site also runs support programs for entrepreneurs, including xELLE, supported by the European Commission, and Bofuluki, carried out in partnership with Enabel.
The rental segment remains the central element of this publication: €8.0 million in third-quarter revenue, up 3.9%, with residential occupancy back close to 100%.
