The successful listing of Africa Logistics Properties Real Estate Investment Trust (ALP REIT) on the Nairobi Securities Exchange (NSE) marks a major milestone for Kenya’s industrial real estate sector. The listing was made possible through a UK–Kenya partnership, which included a USD 24 million commitment from the UK via the MOBILIST programme and the Private Infrastructure Development Group (PIDG), alongside earlier investment from British International Investment (BII). Valued at over KES 5 billion (USD 39.95 million), ALP REIT is the first industrial REIT in East Africa to list in US dollars, allowing Kenyans to invest in local infrastructure while holding a hard currency asset.
The UK investment helped attract Kenyan pension funds to the listing, supporting greater local capital participation and enabling businesses to access modern warehouses and logistics facilities. This addresses critical challenges in supply chain management, reducing product damage and delays, improving export competitiveness, and supporting business growth. ALP REIT pools capital from multiple investors to develop high-quality logistics infrastructure, enabling more efficient storage, distribution, and trade while creating jobs and strengthening the local economy.
Stakeholders highlighted the transformative potential of the initiative. Diana Dalton, Deputy High Commissioner & Development Director, emphasized that improved warehousing is key to profitability, export potential, and income security for workers. ALP CEO Raghav Gandhi noted that the partnership demonstrates the power of pooled investment to enhance industrial infrastructure, market access, and Kenya’s alternative investment landscape. The NSE CEO, Frank Mwiti, described the dollar-denominated REIT as a historic milestone providing investors access to Africa’s industrial logistics sector.
The initiative forms part of broader efforts under the Kenya–UK Strategic Partnership to drive trade, investment, green growth, and job creation. By unlocking local capital through technical support, early-stage financing, and market development, the partnership encourages private sector participation in infrastructure development. The listing also strengthens Kenya’s capital markets by providing scalable investment products and enabling pension funds to invest domestically.
Africa Logistics Properties (ALP) continues to expand its logistics portfolio across Kenya, combining international best practices with local expertise to deliver institutional-grade warehouses that meet IFC EDGE Advanced standards. The company is developing new projects, including ALP West Kivu, expected to complete in 2026, while preparing the ALP REIT for broader market participation. PIDG and MOBILIST provide technical, financial, and partnership support to mobilize local and institutional investment, ensuring that public funds leverage larger flows of capital to create sustainable infrastructure solutions.
This listing demonstrates how strategic partnerships and targeted investment can enhance Kenya’s industrial and logistics capacity, increase export competitiveness, deepen capital markets, and create jobs, reflecting shared goals of sustainable economic transformation for both the UK and Kenya.
