The Two Rivers International Finance and Innovation Centre Special Economic Zone has launched a Sh4.8 billion green, US dollar-denominated Income Real Estate Investment Trust to fund the acquisition of TRIFIC North Tower and the development of additional environmentally sustainable commercial towers within the zone.
The offer opens on May 13 and closes on June 12, 2026. Successful investors will be allotted units on June 15, while the results of the offer and processing of refunds will be announced the following day.
The I-REIT is expected to list on the Main Investment Market Segment of the Nairobi Securities Exchange on June 23.
The launch was attended by Centum Investment Company Plc Group chief executive James Mworia, TRIFIC chief executive Brenda Mbathi, KCB Investment Bank managing director Maurice Opiyo and NCBA Bank Kenya managing director James Gossip.
TRIFIC said the product will be among Kenya’s first green, US dollar-denominated income-distributing REITs, creating a new asset class for investors seeking stable dollar returns linked to environmentally sustainable real estate.
“This offer is unrestricted and therefore open to both institutional and retail investors. The I-REIT investors will effectively earn a stable share of the export revenues of a diversified portfolio of global service firms operating from TRIFIC, making this one of the most future-oriented real-estate income products in the region,” Ms Mbathi said.
KCB Investment Bank is the transaction adviser, sponsoring broker and lead placing agent for the offer.
Mr Opiyo said the minimum subscription amount of Sh129,000, equivalent to $1,000, makes the offer accessible to a broad range of investors seeking exposure to Kenya’s real estate sector.
“With the minimum subscription amount set at Sh129,000, this offer is within reach of most investors seeking a stake in Kenya’s real estate sector,” he said.
Proceeds from the I-REIT will be invested exclusively in green-certified commercial towers built to international sustainability standards.
The North Tower, which offers more than 16,000 square metres of lettable space, is already 92 percent leased to multinational service-exporting firms. Planning for a second tower is underway following growing demand.
TRIFIC’s tenants are mainly global service exporters, including business process outsourcing firms, technology companies, shared services centres and professional services firms serving international clients. The firms are expected to create high-quality export-oriented jobs for Kenyan professionals.
Ms Mbathi said the long-term dollar-based leases, backed by guaranteed annual escalations and TRIFIC’s embedded service-support model, provide a reliable and growing income stream for investors.
Under Capital Markets Authority regulations, income REITs are required to distribute at least 80 percent of net profits as tax-exempt dividends, a structure that is expected to enhance investor returns.
Located within Nairobi’s diplomatic blue zone, TRIFIC is the only private services-focused Special Economic Zone in Nairobi. It offers infrastructure, regulatory facilitation and integrated business-support services.
TRIFIC occupies 64 acres within the 106-acre Two Rivers Development and has operated under its SEZ licence since June 2023.
The centre is designated as a Project of Strategic National Importance and is aligned with Kenya’s Vision 2030 agenda.
TRIFIC said the project supports national priorities such as scaling globally traded services, attracting high-value foreign direct investment, creating quality jobs and expanding green and sustainable urban development.