Africa Logistics Properties (ALP) has announced the first dividend distribution to investors from the ALP Industrial Real Estate Investment Trust (ALP REIT). The announcement marks a key milestone for the first industrial income REIT and the first USD-denominated REIT that was listed on the Nairobi Securities Exchange (NSE) six months ago, in March this year.
The $930,434 (Sh120.9 million) dividend declared on Wednesday will be paid to eligible unitholders registered as at the close of business on November 18, 2026, with payment scheduled in the same month on 27, 2027. This distribution marks the next stage in the development of the ALP REIT, which was established to provide investors with exposure to institutional-grade industrial and logistics real estate asset class through an income-generating investment vehicle.
In a market where listed REITs have typically paid dividends annually, ALP Chief Executive Officer Raghav Gandhi said the company intends to move towards a quarterly distribution model as the portfolio scales. He said the deal offers investors more frequent access to income and sets a new benchmark for REIT performance in Kenya.
“With the first dividend from the ALP REIT, we are beginning to deliver on the income proposition that underpins the platform,” said Gandhi. “Our focus now is on continuing to grow the portfolio with assets that are well located, efficiently developed and responsive to what businesses need.
Kivu is ALP’s latest 11,000 square metre institutional-grade logistics development and a potential future addition to the ALP REIT portfolio. Together with two others at the site and another development at Tatu City, this brings the total green-certified under IFC warehouse portfolio space to 80,000 square metres.
The development has reached approximately 85 per cent occupancy within its first month of completion, making it the fastest-filled phase and demonstrating strong demand for well-located, institutional-grade logistics space, with its anchor tenant being a distribution partner to a major hypermarket chain.
The ALP REIT establishment and growth have been supported by international development finance, including US$24 million from the UK Government through the MOBILIST programme and PIDG, via its project development solution InfraCo Africa, supporting the development of a listed investment vehicle designed to channel capital into East Africa’s logistics infrastructure.
Key points
- ALP REIT's first dividend distribution amounts to $930,434 (Sh120.9 million).
- ALP intends to move towards a quarterly distribution model as the portfolio scales.
- The ALP REIT was listed on the Nairobi Securities Exchange (NSE) six months ago, in March this year.
