Kenya's REITs on the Rise: Government Pledges Support for Real Estate Investment Growth

The 2023 REITs Association of Kenya Annual Conference saw an optimistic outlook for Real Estate Investment Trusts (REITs) as a financial asset class. The Principal Secretary expressed confidence in the potential for REITs to take off as a prominent investment vehicle.

During the event, PS. Abubakar Hassan, the Principal Secretary, emphasized the crucial role played by domestic capital markets in Kenya. He highlighted their significance in mobilizing both local and international resources, underscoring their positive impact on the Kenyan economy.

Furthermore, PS. Abubakar Hassan reaffirmed the government's unwavering commitment to fostering the growth of Real Estate Investment Trusts. He stressed the pivotal role REITs can play in channeling private investments into various real estate sector projects, with a specific mention of the affordable housing program.

In summary, the 2023 REITs Association of Kenya Annual Conference showcased a favorable outlook for REITs, with PS. Abubakar Hassan, the Principal Secretary, stressed the importance of domestic capital markets and the government's dedication to supporting the growth of REITs for real estate development, including affordable housing initiatives.