The Competition Authority of Kenya has approved GenAfrica-backed Batian Property Fund’s full acquisition of Riverside Towers Limited, the company that owns and manages The Cube commercial property in Westlands, Nairobi.
- •The deal gives Batian complete control of the property as part of its plan to expand its Nairobi real estate portfolio.
- •The approval, issued on 9 October 2025, authorizes Batian Income Properties LLP, which manages the Batian Property Fund, to acquire 100% of Riverside Towers Limited.
- •According to the regulator, the combined entity will control about 8% of Nairobi’s office rental market, facing competition from established players such as HassConsult, Knight Frank, Dunhill Consulting, Pam Golding Properties, and VAAL Real Estate, which together account for 92% of market share.
About Batian Property Fund
Batian Property Fund, established on 1 September 2018, was conceived by GenAfrica Asset Managers to enhance portfolio diversification for its client base.
The Fund focuses on strategic investments in Kenya’s real estate sector and is targeting a KSh 10 billion fund size, split equally between income-generating and development assets.
The Fund operates through Batian Income Properties LLP and is listed on the Nairobi Securities Exchange’s Unquoted Securities Platform (USP) under the name Batian Income Property Fund. It currently trades at KSh 100 per unit with a market capitalization of about KSh 750 million.
With this acquisition, Batian strengthens its position as one of Kenya’s emerging institutional investors in commercial real estate, aligning with its long-term goal to deliver stable returns and contribute to portfolio diversification for GenAfrica’s investors.
