Warehouse developer gets Sh228m boost on Finance Act relief
Africa Logistics Properties (ALP) has avoided a Sh228 million stamp duty charge by transferring properties into its newly listed Real Estate Investment Trust (Reit). This move was made possible by a tax exemption provision in the Finance Act 2026.
Why it matters
The exemption highlights how legislative changes can significantly impact the financial structuring and operational costs of real estate development firms.
Warehousing developer Africa Logistics Properties (ALP) has been spared a Sh228 million stamp duty charge after it moved its property into its recently listed real estate investment trust (Reit), riding on the provision of the Finance Act 2026, which exempted such transfers from the levy.
ALP listed Kenya's first dollar-denominated Income Real Estate Investment Trust (I-Reit) in March after bringing in new investors through a restricted offer that raised $34 million (Sh4.4 billion).
The company then initiated the transfer of three properties in Tatu City and Tilisi, valued at a combined Sh3.43 billion, into the Reit. It is in the process of transferring another Sh2.38 billion warehouse unit at Tatu City into the Reit.
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