Nairobi, Kenya: The Private Infrastructure Development Group (PIDG) has approved an investment to anchor the upcoming ALP Industrial Real Estate Investment Trust (ALP REIT), sponsored by Africa Logistics Properties Holdings Ltd (ALPH), marking a significant milestone in the development of Kenya’s institutional-grade industrial real estate sector. Through its project development solution, InfraCo, PIDG has committed to invest up to USD 15m as an anchor investor in the ALP REIT, subject to regular conditions, and the successful completion of the ongoing capital raise.
Approved by the Capital Markets Authority on 8th of December 2025, the new ALP REIT is the first industrial Income REIT (I-REIT) in East Africa, pioneering the use of the tax-efficient instrument in Kenya’s industrial real estate sector.
The ALP REIT began issuing units on 17th December to finance its seed assets. These will be ALP’s existing industrial parks, which includes 35,000 square metres at ALP North Park in Tatu City, and 20,000 square metres at ALP West Park in Tilisi. New facilities will be transferred to the I-REIT once they become stabilised. Business tenants of the company’s modern, IFC EDGE certified warehousing facilities benefit from enhanced business productivity and improved inventory management.
Raghav Gandhi, Chief Executive Officer of ALPH said, “Providing investors with stable, USD-denominated returns, the ALP REIT will increase the confidence of institutional investors to diversify their portfolios into the infrastructure asset class, whilst supporting the growth of Kenya’s industrial real estate sector. We look forward to working alongside PIDG colleagues at our upcoming roadshows events. ”
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. We are delighted to expand this expertise into the industrial real estate sector by supporting ALP to develop its ALP REIT.”
By building investor confidence, it is anticipated that the ALP REIT will unlock untapped pools of investment from pension, mutual, and life funds, supporting the growth of Kenya’s industrial real estate sector.
