ALP REIT lists on Nairobi exchange, raising $34.55 million

Africa Logistics Properties has listed its Industrial Real Estate Investment Trust (ALP REIT) on the Nairobi Securities Exchange, marking a milestone for both Kenya’s capital markets and the region’s logistics infrastructure sector.

The listing makes ALP REIT East Africa’s first industrial-focused REIT and the first US dollar-denominated security to trade on the exchange. The offering raised $34.55 million and was oversubscribed by 115%, reflecting strong investor appetite for logistics real estate assets.

The proceeds are expected to support the development and expansion of modern warehousing and industrial facilities across Kenya, addressing growing demand driven by e-commerce, trade and manufacturing activity. Improved warehousing capacity is seen as critical to reducing supply chain inefficiencies, lowering storage costs and enhancing export competitiveness.

The transaction received backing from UK-supported initiatives, including Private Infrastructure Development Group through its InfraCo platform, and the MOBILIST programme. The British High Commission Nairobi highlighted that the investment would contribute to strengthening Kenya’s financial markets while supporting long-term economic growth.

The development underscores a wider trend of institutional investment targeting Africa’s logistics and warehousing sector, as supply chains evolve and demand for efficient distribution networks continues to rise.