The Two Rivers International Finance and Innovation Centre (TRIFIC) Special Economic Zone (SEZ) has opened a Ksh. 4.8 billion ($37.3 million) Green, USD-denominated Income Real Estate Investment Trust (I-REIT).
The offering opened to investors on May 13th and is one of East Africa’s dollar-denominated, eco-certified property funds. It aims to bridge the gap between retail capital and the dollar-backed commercial real estate market driven by global multinational tenants.
Unlike traditional real estate plays, the fund’s revenues are anchored by long-term, dollar-based leases with guaranteed annual escalations. Furthermore, under Capital Markets Authority (CMA) regulations, the I-REIT is legally mandated to distribute at least 80% of its net profits as tax-exempt dividends, maximizing cash-flow returns for shareholders.
“This offer is unrestricted and therefore open to both institutional and retail investors,” noted TRIFIC CEO Brenda Mbathi during the high-profile launch. “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 products in the region.”
The launch drew heavyweights from Kenya’s financial and investment sectors, including Centum Investment Company PLC Group CEO Dr. James Mworia, KCB Investment Bank Managing Director Maurice Opiyo, and NCBA Bank Kenya Managing Director James Gossip.
The proceeds of the I-REIT are strictly earmarked for the acquisition of the TRIFIC North Tower and the subsequent development of future environmentally sustainable commercial towers within the SEZ.
The underlying fundamentals of the anchor asset are remarkably robust. The TRIFIC North Tower, which spans over 16,000 square meters of prime lettable space, is already 92% leased.
Key timelines
Positioned to capture both institutional players and the retail mass market, the minimum subscription has been set at Sh129,000 ($1,000).
- Offer Period: May 13, 2026 – June 12, 2026
- Allotment Date: June 15, 2026
- Results & Refund Processing: June 16, 2026
- Public Listing (NSE): June 23, 2026
TRIFIC occupies 64 acres within the 106-acre Two Rivers Development and it was licensed as an SEZ in June 2023.