Cash-flush pension funds want President William Ruto to set up a real estate investment trust (REIT) and offer tax incentives as a pre-condition to unlock billions of shillings to finance his dream affordable housing projects. A REIT is a company that owns, operates, or finances income-generating real estate and offers investors both income and capital appreciation.
Through their lobby, the Association of Pension Trustees and Administrators of Kenya (APTAK), the fund said a national REIT would provide a legal basis for engagement with the State that is eyeing its Sh1.55 trillion assets.
