Our Journey
2013
- Conceptualization of the REIT product by STANLIB Begins
- CMA RETIs Regulations Enacted
2015
- 30th September: REITS CMA license and business registration
- Income Tax Act amended to include REITs Exemption
- 27th November: IPO Listing
- Commenced operation with 3 seed properties
2018
- Commenced construction of a modern 300 seat capacity, 3 screen cinema at Greenspan Mall
- New office building acquired for Ksh. 850M. Portfolio increased to 4 properties.
2019
- May: Completed Cinema development at Greenspan Mall
- 7th November: STANLIB announced disposal of fund management businss including the REITs
2020
- 18th May: ICEA LION Asset Management became the REIT Manager & Promoter
- Covid-19 Pandemic
- Distressed Anchor Tenant (Tuskys)
2021
- May: Naivas onboarded as new anchor Tenant at Greenspan Mall
- ILAM undertook through Strategic Review of the REIT, comenced restructuring
2022
- February: Naivas opens its flagship branch at Greenspan
- Optimization of Assets
- Restructuring continues
2023
- Disposal of non-core assets
- CMA approval of the Proposed:
- Conversion of the ILAM Fahari I-REIT from an unrestricted I-REIT into a restricted I-REIT.
- Redemption offer of 36,585,134 units from non-professional investors.