Nairobi, Nov. 29 -- Mauritius' real estate developer Grit Real Estate Income Group nearly doubled its borrowings from Kenyan banks to $94.9 million (Sh12.3 billion) in the year to June 2025, to fund its projects in the local market where it is expanding.

The dollar-denominated borrowings rose from $48.7 million (Sh6.3 billion) a year earlier, with Absa Bank Kenya, NCBA Bank Kenya and Stanbic Bank Kenya emerging as its top lenders in Kenya.

The multinational also has substantial borrowings in other markets to fund its capital-intensive construction and acquisition of commercial properties.

Read:NCBA lends extra Sh1.5bn to Mauritius property firm

Grit has disclosed that a $35 million (Sh4.5 billion) loan from Absa helped to develop Nair...