REITS Association Hosts 250 Global Delegates for New Investment Talks

The REITs (Real Estate Investments Trusts) Association of Kenya (RAK) was held on 18^th September the inaugural National REITs Conference at the Radisson Blu Hotel, Nairobi.

The maiden event was officially opened by Cabinet Secretary James Macharia, Ministry of Transport, Infrastructure, Housing, and Urban Development.

The conference brought together over 250 delegates and a host of local and global experts to discuss REITs as a new investments frontier opportunity in Kenya. The conference comes at a time when the real estate sector continues to gather momentum.

“To create the necessary enabling environment for private sector participation in the delivery of public infrastructure, the Government of Kenya has continued to review the existing frameworks and undertaken requisite reform in consultations with all the stakeholders including financiers. The Kenyan Government is keen on partnering with the private sector in the delivery of public infrastructure including the housing sector and development of REITs,” said CS Macharia.

“We wish to acknowledge and thank the government for the development of a framework for the establishment of REITs in Kenya. REITs will enable investors to diversify income streams as well as grow through professional management and economies of scale that allows them to transcend individual circumstances in continuing to generate wealth,” reiterated, Edward Kirathe, Chairman REITs Association of Kenya.

“The conference has created an opportunity for key players in the real estate sector to be apprised on the potential and opportunity presented by REITs as a viable investment vehicle through which local and international investors can tap into the booming real estate sector in Kenya,” Mr. Geoffrey Odundo, NSE Chief Executive noted.

REITs are regulated investments vehicles that enable issuers’ pool investors’ funds for the purpose of investing in real estate. In exchange, Investors receive units in the trust and share in the profits or income from the real estate assets owned by the trust.