The Capital Markets Authority (CMA) of Kenya has granted Real Estate Investment Trust (REIT) Manager License to Future Construkt Investment Managers Ltd, a subsidiary of Construkt Africa LLC (Mauritius), a strategy advisory and asset management firm.
- •The development paves way for Future Construkt to mobilize institutional capital and implement its Kenya-focused real estate investment strategy, with key focus on green housing schemes and asset management of institutional-grade commercial property portfolios.
- •Construkt Africa recently launched Teja Spaces, its inaugural premier co-working office, located at Delta Riverside Office Park in Nairobi.
- •In May, CMA said it remains committed to support the National Government’s Affordable Housing agenda through facilitating uptake of REITs, an innovative capital markets product.
“Construkt Africa’s real estate strategy aligns with the vision for smart, green cities and modern, sustainable communities, delivering essential services and modern facilities that enhance infrastructure, connectivity, and the built environment.” said Paul Kavuma, Founder and CEO of Construkt Africa and Executive Director of Future Construkt.
“With Kenya’s improving macroeconomic environment—characterized by rising GDP, declining inflation, and falling interest rates—REITs offer a compelling avenue for inflation-hedged income generation and capital appreciation,” Kavuma added.
In May CMA Chief Executive Officer Wyckliffe Shamia emphasized the importance of REITs as a capital market’s product that not only provides an investment opportunity for Kenyans but also serves as a catalyst for the development of affordable housing projects.
Two months before, the regulator had granted a license to NCBA Bank Kenya PLC to operate as a Real Estate Investment Trust (REIT) Trustee.
