Nairobi, Jan. 20 -- The Private Infrastructure Development Group (PIDG), a Western founded infrastructure development finance organisation will take up to a third of the Africa Logistics Properties (ALP)-dollar denominated industrial income property fund.

The fund backed by six governments including the United Kingdom, Netherlands, Switzerland, Australia, Sweden and Canada has committed to invest up to Sh1.9 billion ($15 million) to become the anchor investor in the real estate investment trust (Reit).

The Reit is set to be the first in the industrial real estate sector within the East Africa region.

The ALP Reit is to issue up to 45 million units (shares) including 15 million units or a 33.3 percent ownership to be allocated to the Af...