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TRIFIC Launches Sh5 Billion Green USD I-REIT to Expand Sustainable Commercial Towers
The Two Rivers International Finance and Innovation Centre (TRIFIC) has launched a Sh4.8 billion (USD 37.3 million) Green, USD-denominated Income Real Estate Investment Trust (I-REIT) to finance sustainable commercial developments within its Special Economic Zone.
The fund will support the acquisition of the TRIFIC North Tower and finance additional green commercial towers within the business hub.
The launch positions the TRIFIC I-REIT among Kenya’s first Green, USD-denominated income-distributing REITs.
Leaders attending the launch included James Mworia, Brenda Mbathi, Maurice Opiyo, and James Gossip.
Opening New Investment Opportunities
TRIFIC CEO Brenda Mbathi said the I-REIT creates a new investment opportunity for both retail and institutional investors seeking stable dollar-denominated returns.
“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,” she said.
The offer requires a minimum investment of Sh129,000 ($1,000), making it accessible to more Kenyan investors.
Additionally, the company will announce successful allotments on June 15, 2026. The REIT will list on the Main Investment Market Segment of the Nairobi Securities Exchange on June 23.
KCB Investment Bank serves as the transaction advisor, sponsoring broker, and lead placing agent.
TRIFIC Launches Sh5 Billion Green USD I-REIT to Expand Sustainable Commercial Towers
NCBA Plays Key Role in Landmark Transaction
James Gossip, Managing Director of NCBA Group Kenya, led the NCBA team during the signing ceremony.
The delegation included Sally Chege, Director Transactional Banking, Eva Bore Mwangi, Head Custodial Business, Eden Kaberere, Head Trustee Services, alongside the bank’s Legal Services team.
NCBA continues to play a major role in the transaction as the Receiving Bank and REIT Trustee ahead of the planned Nairobi Securities Exchange listing on June 23, 2026.
Additionally, the milestone reflects the growing strength of NCBA’s Trustee Services business and the bank’s continued commitment to supporting transformative investment opportunities across the region.
Focus on Green Commercial Development
TRIFIC will invest all proceeds from the I-REIT in green-certified commercial towers built to international sustainability standards.
The North Tower already has strong demand. The building offers more than 16,000 square metres of lettable space and currently stands 92 percent occupied.
The tenants include multinational firms operating in Business Process Outsourcing (BPO), technology, shared services, and professional services.
These firms serve global clients while creating high-quality jobs for Kenyan professionals.
Furthermore, Brenda Mbathi noted that long-term dollar-based leases and annual rental escalations will help provide investors with reliable and growing income streams.
Under Capital Markets Authority regulations, Income REITs must distribute at least 80 percent of net profits as tax-exempt dividends.
Supporting Kenya’s Vision 2030 Agenda
TRIFIC operates within Nairobi’s diplomatic blue zone and remains the city’s only private services-focused Special Economic Zone.
The development occupies 64 acres within the larger Two Rivers Development project.
TRIFIC has operated under its SEZ licence since June 2023.
Additionally, Kenya has designated the project as a Project of Strategic National Importance under the Vision 2030 agenda.
The project supports national goals such as attracting foreign direct investment, creating high-quality jobs, expanding globally traded services, and promoting sustainable urban growth.
Meanwhile, TRIFIC has already started planning a second tower as demand for premium office space continues to rise.
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