Africa Logistics Properties (ALP) has declared its first US$930,434 distribution to investors in its industrial property trust, with the company planning to introduce quarterly payouts as its portfolio expands.
The distribution from the ALP Industrial Real Estate Investment Trust (ALP REIT) will be paid on November 27, 2026, to eligible unitholders registered at the close of business on November 18, 2026.
The first payout marks a milestone for the trust, which became Kenya’s first industrial income REIT and first US dollar-denominated REIT listed on the Nairobi Securities Exchange (NSE).
ALP says it intends to move towards quarterly distributions as the portfolio grows, offering investors more frequent access to income from industrial and logistics real estate. The company has not specified when quarterly payments will begin.
“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 said the company would continue expanding its portfolio with well-located properties designed to meet businesses’ warehousing and distribution needs.
The distribution announcement comes alongside the launch of Kivu, an 11,000-square-metre logistics development at ALP West Logistics Park in Tilisi, which reached approximately 85% occupancy within its first month of completion.
The rapid uptake makes Kivu the fastest-filling phase at the logistics park, according to ALP, demonstrating demand for modern warehousing facilities among businesses operating in Kenya’s retail and supply chains.
Its anchor tenant is a distribution partner to a major hypermarket chain, while the development could eventually be added to the ALP REIT portfolio as the company expands its income-generating assets.
“Kivu is a strong example of this approach, and its rapid uptake gives us confidence as we continue to scale,” said Gandhi.
ALP’s developed warehouse portfolio across Kenya now stands at approximately 80,000 square metres across ALP North Logistics Park in Tatu City and ALP West Logistics Park in Tilisi.
The company is seeking to expand its logistics platform through further developments and acquisitions, with the intention of adding more income-generating properties to the REIT over time.
Modern logistics facilities are becoming increasingly important as trade volumes and regional supply chains expand across East Africa, supporting manufacturers, distributors, importers and exporters that require efficient storage and distribution infrastructure.
Agriculture and horticulture businesses account for approximately 30–40% of ALP’s tenant mix, according to information provided by the company, alongside other sectors, including solar.
The ALP REIT was listed on the NSE in March 2026 after receiving approval from the Capital Markets Authority in December 2025. Its development was supported by US$24 million from the UK Government through the MOBILIST programme and the Private Infrastructure Development Group (PIDG), via its project development solution InfraCo Africa.
British High Commissioner Matt Baugh said the Kivu development demonstrated how UK-Kenya cooperation could support infrastructure investment and help businesses reach new markets.
“Better logistics can mean less waste, fewer delays and more opportunities for Kenyan businesses to grow and reach new markets,” said Baugh.
The planned shift towards quarterly distributions could make the REIT more attractive to investors seeking regular income from commercial property.
However, the timing and size of future payouts will depend on the growth and financial performance of its property portfolio.
