Africa Logistics Properties (ALP) has announced its first dividend payment of US$930,434 to investors in its industrial real estate investment trust, months after the fund was listed on the Nairobi Securities Exchange (NSE).
The distribution will be paid on November 27, 2026, to eligible investors registered by the close of business on November 18, according to the company’s announcement on Wednesday, October 28.
The ALP Industrial Real Estate Investment Trust (ALP REIT) was listed on the NSE in March 2026 after receiving approval from the Capital Markets Authority in December 2025. It is Kenya’s first US dollar-denominated REIT focused on industrial property.
The dividend marks the fund’s first payout since listing, with ALP saying it intends to move towards quarterly distributions as its property portfolio grows.
The company’s chief executive, Raghav Gandhi, said the payment marked the start of delivering income to investors through the REIT.
He said the company would continue expanding its portfolio with industrial and logistics properties in locations that meet the needs of businesses.
New Warehouse Reaches 85% Occupancy
The dividend announcement comes as ALP unveils Kivu, an 11,000-square-metre logistics development at ALP West Logistics Park in Tilisi.
The warehouse reached about 85 per cent occupancy within its first month of completion, making it the fastest-filled phase at the logistics park, the company said.
Its anchor tenant is a distribution partner to a major hypermarket chain, reflecting demand from businesses involved in retail distribution and supply chains.
Kivu is being considered for possible inclusion in the ALP REIT portfolio as the company seeks to grow the fund through the development and acquisition of income-generating properties.
ALP said its completed warehouse portfolio in Kenya now covers about 80,000 square metres across ALP North Logistics Park in Tatu City and ALP West Logistics Park in Tilisi.
The company is targeting businesses looking for modern warehousing and logistics space, with some leasing opportunities still available at Kivu.
UK Backs Logistics Investment
The development has also received support from international development finance, including US$24 million from the UK Government through the MOBILIST programme and the Private Infrastructure Development Group (PIDG), through its project development arm, InfraCo Africa.
The funding supported the development of a listed investment vehicle intended to channel capital into logistics infrastructure in East Africa.
British High Commissioner to Kenya Matt Baugh said the warehouse reflected cooperation between the UK and Kenya, adding that improved logistics could help reduce waste and delays while giving Kenyan businesses better opportunities to reach markets.
ALP said it plans to continue expanding its logistics property portfolio and add more income-generating assets to the REIT over time.