Geoffrey Odundo, chairman of the REITs Association of Kenya , sat down for a video interview at Nareit’s REITweek: 2026 Investor Conference in New York, June 1-4.
Kenya’s REIT market may be less than a decade old, but it has quickly emerged as one of Africa’s most developed listed real estate sectors. According to Odundo, the market has grown to become the continent’s second largest, supported by favorable legislation, a diversified capital market, and strong institutional investment.
Odundo noted that Kenya’s REIT sector now includes residential, industrial, and commercial assets, with foreign-denominated REITs and green REITs also gaining traction. He emphasized that government support, tax policy reform, and robust capital markets have been essential to the sector’s development.
At the same time, Kenya continues to face challenges common to many emerging REIT markets. Direct property ownership remains deeply ingrained culturally, and industry advocates continue to push for tax reforms that would make transferring assets into REIT structures more efficient.
Looking beyond Kenya, Odundo highlighted the importance of regional collaboration and education to support REIT growth across Africa. The REITs Association of Kenya recently hosted the Africa REITs Conference in Nairobi, bringing together participants from 10 countries.
“We must share knowledge,” Odundo said. “As we share this knowledge, we'll then be able to grow the market continentally.”