On Thursday, Fusion Capital opened the sale of its development real estate investment trust, commonly referred to as D-Reit, to the public at a price of KES 23 per unit for 100Millionn units as the company aims to raise KES 2.3Billion in a sale that closes on July, 15 2016.
The minimum application size per applicant is set at KES 5.01Million or 218,000 units. The company targets corporate and high end clients. The Reits will be listed on the restricted market segment of the Nairobi Securities Exchange.
Listing and commencement of trade is scheduled for Thursday, July 28th, 2016. Proceeds will go towards the company’s real estate projects with the initial project being the Greenwood City, a mixed use development featuring a state of the art shopping mall, a modern office block and high-end two and three-bedroom apartments located in Meru, Kenya.
