The Capital Markets Authority (CMA) has granted Mi Vida Homes Limited a license to operate as a Real Estate Investment Trusts (REITs) Manager.
According to CMA Chief Executive Officer (CEO) Wyckliffe Shamiah, this will boost Reits' provision of real estate management services.
“The newly licensed REIT Manager joins other licensees to facilitate the development of real estate infrastructure and thus support the national government agenda for affordable housing,” he said.
On the other hand, Mi Vida Homes CEO Samuel Kariuki highlighted the favorable conditions and promising outlook for residential real estate, emphasizing that REITs offer a compelling investment opportunity.
“There has been a lot of momentum towards deepening the REITs market in Kenya in the recent past, and we appreciate the role of the CMA, the NSE, and the REITs Association in that. As Mi Vida, we are excited about reaching this milestone as part of our long-term ambition to catalyze mobilization of capital markets towards both supply and demand side financing for real estate,” he said.
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Further, he expressed honor in participating in the incubation program for Reit issuers, noting that the firm has developed a rich pipeline of derisked projects that will benefit from the program.
CMA has also licensed Kingsland Court Trustee Services Limited as a corporate trustee and Mirova Sunfunder East Africa Limited as an investment adviser.
Simultaneously, Securities Africa Kenya Limited has been upgraded from a licensed stockbroker to an investment bank.
