Two Rivers International Finance and Innovation Centre CEO Brenda Mbathi./HANDOUTThe Two Rivers International Finance and Innovation Centre (TRIFIC) has announced plans to launch a $37 million (Sh4.8 billion) Green, USD-denominated Income Real Estate Investment Trust (I-REIT).
The fund will finance the development and acquisition of premium commercial towers that are environmentally sustainable.
To be located within TRIFIC’s Special Economic Zone (SEZ), the I-REIT will be Kenya’s first USD-denominated Green, income-distributing REIT, creating a new asset class for investors seeking stable dollar yields with measurable impact.
“TRIFIC provides its clients with a fully integrated ecosystem of physical infrastructure and business-support services covering both set-up and ongoing operational support embedded in the rental model, ensuring consistent recurring income for the I-REIT,” said TRIFIC CEO Brenda Mbathi.
The support services include regulatory facilitation, compliance, utilities management, talent support, SEZ one-stop-shop services, and high-grade digital connectivity.
Proceeds of the I-REIT will be invested exclusively into green-certified commercial towers built to international sustainability standards.
The tenants occupying TRIFIC facilities are mainly global service exporters including Business Process Outsourcing (BPO) firms, tech firms, shared services centres, and professional services companies who serve clients across the world and create high-quality, export-oriented jobs for Kenyan professionals.
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, making this one of the most future-oriented, real-estate income products in the region.
Investors are expected to earn annual US dollar yields above 7 per cent, supported by 100 per cent USD-denominated leases, annual inbuilt rental escalations, and bundled business-support service revenues that enhance rental stability.
“These long-term, dollar-based leases with guaranteed annual escalations, combined with TRIFIC’s embedded service-support model, create a reliable and growing income stream for investors,” said Ms Mbathi.
Income REIT regulations under the Capital Markets Authority require distribution of at least 80 per cent of net profits as tax-exempt dividends, further enhancing investor returns.
The offering is expected to open in January 2026, subject to regulatory approval, and will be listed on the Nairobi Securities Exchange.
The initial I-REIT proceeds will be used to acquire the TRIFIC North Tower, with future raises financing additional green, USD-rent-generating commercial assets within the SEZ.
The North Tower, offering over 16,000 square metres of lettable area, is already 90% leased to multinational service-exporting firms. Planning for a second tower is underway in response to growing demand.
Located within Nairobi’s secure diplomatic blue zone, TRIFIC is the only private services-focused SEZ in Nairobi, offering world-class infrastructure, regulatory facilitation, and integrated business-support services.
TRIFIC occupies 64 acres within the 106-acre Two Rivers Development, and has operated under its SEZ licence since June 2023.
It is designated a Project of Strategic National Importance (PSNI) and is fully aligned with Kenya Vision 2030 and the Bottom-Up Economic Transformation Agenda (BETA).
Its growth supports national priorities, including scaling traded services globally, attracting high-value foreign direct investment (FDI), generating high-quality jobs, and expanding green and sustainable urban development
