ALP Industrial Real Estate Investment Trust has opened a restricted offer to raise up to US$ 30 million (KSh 3.88 billion) from investors, marking one of the largest industrial property listings lined up for the Nairobi Securities Exchange in 2026.
- •The offer positions the REIT as Kenya’s first USD-denominated industrial and logistics property trust to seek listing on the NSE.
- •The seed portfolio includes ALP West Logistics Park at Tilisi in Limuru and ALP North at Tatu City, two of Kenya’s largest modern industrial parks serving manufacturing, FMCG, retail distribution, and regional supply chains.
- •Proceeds from the offer will fund the acquisition of completed income-generating logistics and warehousing assets developed by Africa Logistics Properties Holdings Limited.
Kenya’s industrial property segment has attracted rising investor interest as e-commerce growth, regional trade, and supply-chain reconfiguration drive demand for modern warehousing. Analysts view logistics real estate as one of the most resilient commercial property classes, supported by long-term leases and dollar-linked rental structures.
ALP Industrial REIT is issuing up to 30 million units at USD 1.00 (KSh 129.4) per unit through a restricted offer, with a green shoe option allowing a further 9 million units if demand exceeds the base offer. The minimum investment is USD 100,000, with additional investments in multiples of USD 10,000, limiting participation to professional and institutional investors.
The REIT will also issue 15 million units to the promoter through the transfer of seed assets, bringing the initial total to 45 million units before any green shoe allocation. The promoter will retain a minimum 20 percent stake, aligning interests with incoming investors.
The assets were selected for their proximity to Nairobi’s key transport corridors and established industrial zones. They feature large-format warehouses, modern loading infrastructure, and sustainability credentials that appeal to multinational and regional tenants seeking compliant, efficient logistics space.
The REIT is managed by ALP REIT Management Limited, which received its licence from the Capital Markets Authority in November. Co-operative Bank of Kenya serves as trustee, while Dyer & Blair Investment Bank is the lead placing agent and sponsoring broker. Deloitte & Touche acts as auditor, CBRE Excellerate provides property valuations, and Image Registrars is the unit registrar.
