Acorn Holdings Limited has received the green light from the Capital Markets Authority (CMA) for the establishment of a Build-to-Rent Development Real Estate Investment Trust (D-REIT), aimed at expanding Kenya’s affordable housing rental market for young urbanites aged 20–30 years.
According to a statement by Acorn Holdings, the D-REIT offers investors an opportunity to participate in large-scale, professionally managed rental property developments.
Institutional investors — including global multilateral organizations, the Private Infrastructure Development Group (PIDG), and Shelter Afrique—have committed capital to the project. Global multilateral organizations and PIDG have pledged KES 1.3 billion in equity investment, while Shelter Afrique has committed USD 2 Million (KES 258 million).
Acorn Holdings CEO Edwin Kirathe described the launch of the Build-to-Rent D-REIT as a major milestone in the company’s mission to provide urban Africa with sustainable rental housing solutions. He added that the new REIT strengthens Acorn’s participation in the capital markets and contributes significantly to the Kenyan economy.
“The initiative will not only enable these individuals to live closer to their work and social lives—bridging the current gap in the provision of suitable homes—but will also help develop Kenya’s domestic capital markets, unlocking further capital to scale access to such housing across the city,” – Claire Jarratt, PIDG Head of Investment Management for InfraCo.
Shelter Afrique Development Bank Managing Director, Mr. Thierno-Habib Hann, noted that the firm was delighted to partner with Acorn. He described the REIT as an important initiative that will provide accommodation to young entrepreneurs and professionals in Nairobi.
“It gives us great pleasure as Shelter Afrique Development Bank to announce a USD 2 million financing agreement with Acorn Holdings, aimed at expanding sustainable, inclusive, dignified, and quality accommodation for young urban professionals—the future of Africa,” – Thierno-Habib Hann.
The homes, which will be built in Nairobi’s key working hubs and certified under IFC EDGE, are designed to accommodate individuals across different income levels, offer enhanced security, remain affordable, and ensure climate resilience and resource efficiency.
Acorn Holdings Major Projects
Acorn Holdings has cemented its position as Kenya’s leading provider of purpose-built student accommodation through its flagship Qwetu and Qejani brands, which serve thousands of university students across Nairobi and Kiambu.
The developer’s major projects include premium Qwetu residences such as Qwetu USIU, Qwetu Parklands, Qwetu Chiromo, Qwetu Bogani in Karen, and Qwetu Hurlingham, all offering fully serviced, modern housing near top universities. Its affordable housing line, Qejani, features key developments like Qejani Juja, Qejani USIU, Qejani Karen, and Qejani Nairobi West, providing budget-friendly alternatives for students.
Beyond physical developments, Acorn has pioneered innovative financing through Kenya’s first operational student accommodation REITs — both the Development REIT (D-REIT) and Income REIT (I-REIT) — and earlier issued Africa’s first certified green bond to support sustainable housing projects. These initiatives have positioned Acorn as a transformative player in Kenya’s student housing and real estate investment landscape.
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