Real Estate -Kenya was lucky to be listed in the new list of sh 25 billion Mauritius-based company project dubbed the Grit Real Estate Income Group Limited.
The firm – International Finance Corporation (IFC) – a subsidiary of the World Bank – will be investing in massive real estate locally.
Among their target projects include warehousing, prime logistics, light industrial and manufacturing.
The Mauritius company also intends to invest in storage facilities, data centres and digital infrastructure real estate assets.
However, the exact location where the investments will be made was not made public.
“Bora Africa will then raise additional financing to execute a Ksh25 billion (USD192 million) pipeline of acquisition and new asset development opportunities in Sub-Saharan Africa.
“Grit is seeking IFC’s funding to support the acquisition and development of the industrial pipeline assets in Kenya, Mauritius and Nigeria,” read the project brief in part.
However, the subsidiary of the World Bank clarified that it would only finance part of the projects amounting to Ksh4 billion (USD30 million)
On the other hand, the IFC explained that it disclosed details of the credit application for transparency purposes.
According to IFC, the Grit Real Estate Income Group has assets of over Ksh111 billion across countries in Sub-Saharan Africa.
