TRIFIC Green Dollar REIT Oversubscribed as Kenya Eyes 8% USD Yield
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Kenya’s first dollar-denominated green REIT has attracted stronger-than-expected investor demand. The offer closed oversubscribed, signaling rising appetite for stable USD real estate income.
The TRIFIC Green USD Income Real Estate Investment Trust has closed its public offer with strong investor demand, raising about US$30.82 million against a target of roughly US$29.83 million, representing a 103% oversubscription. The REIT is backed by the TRIFIC North Tower within Nairobi’s Two Rivers Special Economic Zone and is set to list on the Nairobi Securities Exchange on June 23, 2026.
The instrument, Kenya’s first dollar-denominated income REIT, is anchored on a fully occupied, green-certified commercial office building leased to multinational tenants, including long-term dollar-paying corporate occupiers. It is designed to offer investors stable hard-currency income, with projected yields of around 8% annually distributed from rental cash flows.
The structure also lowers entry barriers by allowing retail investors to participate from as little as US$1,000, a shift from earlier REITs that largely attracted institutional capital. Proceeds from the offer will support asset transfer into the trust and strengthen Kenya’s growing market for listed real estate investment vehicles.
With listing expected later in June, attention now shifts to secondary market liquidity and whether dollar-denominated REITs can deepen participation in Kenya’s capital markets beyond traditional property investment channels.