Africa Logistics Properties (ALP), an integrated commercial property investment platform with a principal focus on the logistics and industrial sector, have completed their second Nairobi land acquisition of 22.3 acres in Tatu in Northern Nairobi. They are backed by diversified investment holding company, Maris.
With this project, the company would like to deliver Nairobi’s first international standard Grade-A logistics and distribution park for the occupier rental market and plan on beginning construction for the first phase of the 50,000m2 project in early 2017.
Their first acquisition, which was completed in November 2016, was for a modern industrial park located in Western Nairobi, which would also be developed in phases with up to 80,000m2 of modern international standard Grade-A warehousing for light industrial, logistics and distribution uses by occupiers. For this project, the intention is provide units of 5,000m2 and larger to Grade-A specifications, direct access to the Western Highway from Nairobi to Nakuru, 24-hour comprehensive security and utilities infrastructure incorporating environmental technologies to international standards. In addition, ALP is keen on developing “Built-to-Suit” options for companies to meet their specific requirements.
This acquisition is in line with the narrative of African real estate investors increasingly looking to allocate capital to Eastern Africa.