Nairobi, Kenya: Central business district of Nairobi viewed from the roof of Kenyatta International Conference Centre (KICC). Image courtesy of Shutterstock.
A Case for Islamic Sharia Compliant Real Estate Investment Trust’s (Islamic REIT’s) in Kenya
November 09, 2015 | Updated at September 27, 2017
IM Messenger
Email Kenya had its first REIT offer the Stanlib Fahari I-Reit on 25th October 2015. This is the first REIT offering after The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations, 2013 vide legal notice no. 116 came into effect on18th June, 2013. The same regulations also provide for the rules to govern Islamic REIT’s. This is an important and promising asset class for sharia complaint investment, both for an individual’s personal financial plan and for institutional investor’s like fund managers who operate Islamic Sharia Compliant retirement benefit schemes and Islamic Mutual Fund managers.
Historically, Islamic REIT’s came into existence in July 2006 after Malaysia’s innovative launch of the world’s first Islamic REIT the Al-Aqar KPJ REIT....
