NAIROBI, Kenya,Oct 28 – Africa Logistics Properties (ALP) has declared its first dividend of Sh120.5 million to investors in its industrial Real Estate Investment Trust (REIT), following its listing on the Nairobi Securities Exchange (NSE) in March 2026.
The distribution of US$930,434 will be paid on November 27, 2026, to eligible investors registered as unitholders by November 18.
ALP says it intends to move towards quarterly distributions as its portfolio expands, although future payouts will depend on rental income, operating costs and the performance of its properties.
“With the first dividend from the ALP REIT, we are beginning to deliver on the income proposition that underpins the platform,” said Raghav Gandhi, Chief Executive Officer of Africa Logistics Properties.
“Our focus now is on continuing to grow the portfolio with assets that are well located, efficiently developed and responsive to what businesses need.”
The announcement coincides with the launch of Kivu, an 11,000-square-metre logistics warehouse at ALP West Logistics Park in Tilisi, Kiambu County. The company is considering the facility for future inclusion in the REIT.
ALP said Kivu reached approximately 85 per cent occupancy within its first month of completion. Its anchor tenant is a distribution partner to a major hypermarket chain.
The development adds to ALP’s warehouse portfolio in Kenya, which stands at approximately 80,000 square metres across ALP North Logistics Park in Tatu City and ALP West Logistics Park in Tilisi.
UK funding supports logistics development
The REIT received approval from the Capital Markets Authority in December 2025 before listing on the NSE in March 2026. It is denominated in US dollars, exposing investors to returns from industrial property while also introducing currency considerations for those measuring their investments in shillings.
Its development has received US$24 million (approximately Sh3.1 billion) from the UK Government through the MOBILIST programme and the Private Infrastructure Development Group, via its project development arm InfraCo Africa.
British High Commissioner Matt Baugh said the investment could help improve the movement of goods and support businesses accessing markets.
“The ALP West Kivu warehouse shows what the UK-Kenya partnership can deliver. Better logistics can mean less waste, fewer delays and more opportunities for Kenyan businesses to grow and reach new markets. By helping unlock Kenyan investment into infrastructure like this, the UK is backing Kenya’s ambitions for growth and jobs.”
ALP said it plans to develop and acquire additional properties for the REIT. The extent to which this translates into higher distributions will depend on the income generated by its existing assets and the performance of future investments.
The company said leasing opportunities remain available at Kivu for businesses seeking warehousing and distribution space.
