TRIFIC Green property fund lists on Nairobi exchange after strong demand
Business
By
Brian Ngugi
| Jun 30, 2026
The TRIFIC Green USD I-REIT listed on the Nairobi Securities Exchange on Monday following a public offer that was 103.3 per cent subscribed, underscoring investor appetite for dollar-denominated, sustainable real estate assets in East Africa.
The trust raised $30.815 million (approximately Sh4 billion) against a target of $29.832 million (Sh3.9 billion), according to the issuer.
Including the promoter’s contribution of the TRIFIC North Tower, valued at $7.458 million (Sh1 billion), the REIT debuts with a market value of nearly $37.3 million (Sh5 billion).
A bell-ringing ceremony at the NSE drew senior officials including Principal Secretary for Investment, Trade and Industry Abubakar Hassan Abubakar, NSE Chairperson Kiprono Kittony, Centum Investment Group CEO James Mworia, and CMA Deputy Director Vincent Otieno.
KCB Investment Bank Managing Director Maurice Opiyo also attended, alongside institutional investors and development partners.
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The REIT offers investors access to institutional-grade commercial property within the Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), with rental income generated in US dollars. The trust is structured around green building principles, aligning with global environmental, social and governance (ESG) criteria.
"This listing demonstrates how innovative capital markets can unlock long-term investment into sustainable real estate," TRIFIC Chief Executive Officer Brenda Mbathi said at the ceremony. "The overwhelming investor response affirms confidence in both the asset class and the future of TRIFIC."
She added that the debut marked the culmination of years of cross-sector collaboration and expands opportunities for both global and local investors to participate in Kenya's real estate sector.
The prospectus incorporates investor protection measures including a cost overrun and yield support undertaking, minimum rental support arrangements, and a market-making mechanism designed to enhance secondary-market liquidity.
The listing broadens the range of investment products available on the NSE and strengthens Kenya's position as a regional financial hub, the bourse said.
The TRIFIC Green USD I-REIT is regulated under Kenya's Capital Markets Real Estate Investment Trusts Regulations of 2013.