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ALP REIT Declares First Dividend as Kivu Logistics Hub Hits 85% Occupancy
The US$930,434 payout marks a milestone for Kenya’s first industrial income REIT, as demand grows for modern warehousing space.
Africa Logistics Properties (ALP) has declared its first dividend distribution of US$930,434 to investors in the ALP Industrial Real Estate Investment Trust (ALP REIT). The announcement comes as the company unveils its new 11,000-square-metre Kivu logistics development in Tilisi, which reached 85% occupancy within its first month of completion.
The distribution marks a milestone for Kenya’s first industrial income REIT and the first US dollar-denominated REIT listed on the Nairobi Securities Exchange (NSE).
Eligible unitholders registered by the close of business on 18 November 2026 will receive the dividend on 27 November 2026.
ALP REIT Plans More Frequent Investor Payouts
The ALP REIT was established to give investors access to income-generating industrial and logistics properties. Through the investment vehicle, investors can participate in the sector without directly owning and managing the properties.
While listed REITs in Kenya have typically paid dividends annually, ALP intends to move towards quarterly distributions as its portfolio grows. This would give investors more frequent access to income.
“With the first dividend from the ALP REIT, we are beginning to deliver on the income proposition that underpins the platform,” said Raghav Gandhi, CEO of Africa Logistics Properties.
He added that the company plans to grow its portfolio through well-located, efficiently developed properties that meet business needs. According to Gandhi, the early uptake at Kivu supports this strategy.
Kivu Logistics Hub Reaches 85% Occupancy
The dividend announcement coincides with the launch of Kivu, an 11,000-square-metre logistics development at ALP West Logistics Park in Tilisi.
The facility reached approximately 85% occupancy within its first month of completion. Consequently, it became the fastest-filled phase at ALP West Logistics Park.
The development’s anchor tenant is a distribution partner to a major hypermarket chain. This highlights Kivu’s role in supporting businesses across Kenya’s retail and supply chain sectors.
Kivu could also become part of the ALP REIT portfolio in the future. Its potential inclusion supports the company’s plan to expand through the development and acquisition of income-generating logistics assets.
ALP REIT Declares First Dividend as Kivu Logistics Hub Hits 85% Occupancy
Demand for Modern Warehousing Grows
Demand for modern logistics facilities is rising as trade volumes and regional supply chains expand across East Africa. As a result, well-located warehouses are becoming increasingly important to manufacturers, distributors and importers.
Such facilities help businesses store and move goods more efficiently along key trade routes. They can also support the wider supply chain by reducing delays and improving access to markets.
British High Commissioner Matt Baugh said the Kivu warehouse demonstrates the value of UK-Kenya cooperation.
“Better logistics can mean less waste, fewer delays and more opportunities for Kenyan businesses to grow and reach new markets,” Baugh said. He added that the UK was supporting Kenya’s growth and job creation ambitions by helping unlock local investment in infrastructure.
ALP REIT Listing Supported by International Investment
The ALP REIT was listed on the NSE in March 2026 after receiving approval from the Capital Markets Authority in December 2025.
Its development has received international support, including US$24 million from the UK Government through the MOBILIST programme and the Private Infrastructure Development Group (PIDG). The funding was channelled through PIDG’s project development solution, InfraCo Africa.
This support has helped advance an investment vehicle designed to channel capital into East Africa’s logistics infrastructure. It also reflects the role institutional investment can play in addressing infrastructure needs while creating opportunities for investors.
ALP Expands Its Logistics Portfolio in Kenya
With Kivu, ALP’s developed warehouse portfolio in Kenya now stands at approximately 80,000 square metres. The facilities are located at ALP North Logistics Park in Tatu City and ALP West Logistics Park in Tilisi.
Going forward, the company plans to continue expanding its logistics platform and adding income-generating properties to the REIT over time.
Meanwhile, leasing opportunities remain available at Kivu for businesses seeking modern warehousing and logistics space.
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