Douglas Mwiti 
From left: Frank Mwiti, Chief Executive Officer, Nairobi Securities Exchange; Stephen Odua, Director of Industries, State Department for Investment Promotion, Ministry of Investment, Trade and Industry; Kiprono Kittony, Chairman, Nairobi Securities Exchange; H.E. Diana Dalton, Deputy High Commissioner to Kenya, British High Commission Kenya; Raghav Gandhi, Chief Executive Officer, Africa Logistics Properties; Ugas Sheikh-Mohamed, Chairman, Capital Markets Authority; and Wyckliffe Shamiah, Chief Executive Officer, Capital Markets Authority, during the ALP Industrial Real Estate Investment Trust (ALP REIT) listing and bell ringing ceremony at the Nairobi Securities Exchange in Nairobi on Wednesday 11th March 2026.
- Africa Logistics Properties announces strategic investors in historic industrial REIT listing on the Nairobi Securities Exchange;
Africa Logistics Properties Holdings Limited (ALPH) has announced the participation of two key international investors in its landmark ALP Industrial Real Estate Investment Trust (ALP REIT).
The announcement came during a dedicated bell ringing ceremony to mark the official listing of the ALP REIT at the Nairobi Securities Exchange (NSE)
The UK government committed USD 24 million (KES 3.14 billion) to the listing through investments from both the Private Infrastructure Development Group (PIDG) and the MOBILIST programme.
As strategic cornerstone investors, PIDG has commited a total investment of USD 15 million, with MOBILIST investing USD 9 million, marking a significant milestone in the advancement of Kenya’s institutional-grade industrial real estate sector.
The ALP REIT, approved by the Capital Markets Authority (CMA), is the first industrial REIT in East Africa and the first USD-denominated security to list and trade on the NSE.
This excludes USD 5 million of the overall PIDG commitment which will be Invested as the REIT scales.
These anchor investments supported ALPH in attracting a wide range of investors from the private sector, including local and regional institutional investors.
“This milestone underscores Kenya’s growing capital markets maturity and the increasing attractiveness of industrial real estate as a sustainable investment class.
Their support will accelerate industrial development, driving economic growth, job creation and sustainable infrastructure,” said Raghav Gandhi, Chief Executive Officer of ALPH.
PIDG, a pioneer in mobilising private investment for sustainable infrastructure across Africa and Asia, is investing through its project development solution InfraCo.
Claire Jarratt, PIDG Head of Investment Management for InfraCo said: “Having anchored the establishment of REITs for affordable housing in Nairobi, PIDG is familiar with the REIT structure, and we know that it works to mobilise vital new sources of capital for economic development.
We are delighted to expand this expertise into Kenya’s industrial real estate sector by supporting ALPH to develop its ALP REIT.
Today’s listing marks a further milestone for the instrument in the East African market and is an endorsement of ALPH’s strong governance and the sustainability of the business.”
Ross Ferguson, Programme Lead for MOBILIST within the Foreign, Commonwealth, and Development Office (FCDO), said: “MOBILIST is proving that underwriting and anchoring first-of-their-kind public listings can unlock entirely new pathways for investment in frontier markets.
In Kenya, creating listed products that domestic pension funds can invest in is essential to reducing their over-reliance on government debt and directing long-term capital to the businesses that drive growth.
By demonstrating credible exit routes for development finance institutions through local listings, the UK is helping build deeper, more liquid markets that attract both domestic and international investors. This is how we turn public markets into a scalable engine for sustainable development.”
“The debut of the dollar-denominated Industrial I-REIT is a historic milestone for our market,” noted NSE Chief Executive Officer Frank Mwiti.
“By bringing this asset class to the NSE, we are providing investors with a seamless gateway to Africa’s industrial logistics sector, combining the stability of hard currency with the growth potential of regional infrastructure.”
Since 2016, ALPH has developed two flagship industrial parks in Kenya:ALP North in Tatu City (50,000 sqm) and ALP West in Tilisi (20,000 sqm), providing modern, scalable industrial infrastructure to meet the growing demands of Kenya’s logistics and manufacturing sectors.
The facilities include large-format warehouses with advanced loading infrastructure, all built to IFC EDGE Advanced green building standards.
