ALP Industrial REIT Raises $29.55M to Launch Kenya’s First Logistics Trust
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Kenya’s first logistics-focused REIT has raised nearly $30 million ahead of its NSE debut. Strong investor demand signals growing appetite for warehouse and supply-chain real estate.
ALP Industrial REIT has raised about $29.55 million (KSh 3.82 billion) in a restricted offer, marking a major milestone for Kenya’s real estate capital markets. The fund, backed by Africa Logistics Properties, is the country’s first logistics-focused real estate investment trust and will list on the Nairobi Securities Exchange.
The offer was nearly fully subscribed at 98.5%, with additional institutional backing lifting total participation above the target level. Proceeds are supported by high-quality warehouse assets located in key logistics hubs, including Tatu City and Tilisi.
The listing introduces a new asset class to Kenya’s REIT market, which offices and student housing have largely dominated. It reflects rising demand for industrial and warehousing space driven by e-commerce growth and regional trade expansion.
Analysts say the launch could reshape how institutional investors access logistics infrastructure, especially as supply chains across East Africa continue to modernize.