One year later: What’s cooking in the Real Estate Investment Trusts pot?

A well planned  estate in Nairobi. Experts hope that Reits will bring with it more investment grade developments. [PHOTOS: GILBERT OTIENO AND COURTESY/STANDARD]

When Real Estate Investment Trusts (Reits) regulations were finally gazetted last year, there was excitement across the country. The Capital Markets Authority (CMA) which crafted the rules described Reits as the “exploring of additional channels of raising long-term capital necessary to fund the scale of the projects envisaged under Vision 2030”.

Mombasa developer and host of Mombasa Homes Expo Mwenda Thuranira described it as “cheaper source of funds for real estate development by having investors who will be shareholders and not debtors”.