The Capital Markets Authority (CMA) has officially granted NCBA Bank Kenya PLC a license to operate as a Real Estate Investment Trust (REIT) Trustee.
This decision aligns with the Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations of 2013, the Capital Markets (Corporate Governance) (Market Intermediaries) Regulations of 2011, and any other relevant regulations.
In a statement, Mr. Wyckliffe Shamiah, the Chief Executive Officer of CMA, expressed the Authority’s unwavering commitment to supporting the Affordable Housing agenda of the National Government by facilitating the adoption of REITs, a pioneering product within the capital markets domain.
It is anticipated that NCBA Bank Kenya PLC will play a pivotal role in fostering investments in the real estate sector, thereby bolstering economic growth and advancing the Affordable Housing Initiative.
Mr. Shamiah underscored the significance of REITs as a financial instrument that not only offers investment prospects for the citizens of Kenya but also acts as a driving force for the advancement of affordable housing ventures.
