I hear Wanjiku is buying into this thing like non-sense. They think its an IPO in the conventional sense. and the company is called Stanlib Ireit. and its in the business of building malls

I see even the NSE is trying to support these guys, see the daily nation page 49.

Things are thick !!!!!!!

We are talking whole pages!!!

NEWS RELEASE

CMA EXTENDS STANLIB FAHARI I-REIT SELLING WINDOW

…issue to be listed on 26 November, 2015
NAIROBI, November 10, 2015… Investment Company STANLIB has extended the period in which investors may apply for the STANLIB Fahari I-REIT shares to November 18, 2015 from the original stated date of November 12, 2015.
The extension, which has been approved by the Capital Markets Authority, will give more time to both corporate and retail investors to invest in the region’s first property income fund.
While making the announcement, STANLIB’s Fahari I-REIT CEO, Anton Borkum said: “Being the first in the market meant that we had to ensure that investors understand the attributes of this new investment vehicle in a short space of time. We have had multiple meetings with investors and have found the need to extend the offer period. The decision follows a number of requests from corporate investors to consult and prepare their applications for subscription.”
The listing date for the I-REIT on the Nairobi Securities Exchange (NSE) will
now be 26 November 2015. The STANLIB Fahari I-REIT allows investors to own a slice of Kenya’s lucrative Real Estate segment and will be listed on the Nairobi Securities Exchange under the recently launched Real Estate Market Segment.
An I-REIT is a collective investment vehicle that allows investors to pool
capital, which is then invested in a portfolio of selected properties for a
return. Investors gain through capital appreciation and rental income, with
the latter being distributed to unit-holders annually.

The I-REIT is a tax efficient vehicle, in that the income earned by the I-REIT
is not taxable. The I-REIT will serve to deepen the Kenya Capital Market and become a mechanism for spreading wealth and entrenching an investment culture
which is an important component of Kenya’s vision 2030.
Among the investors who have committed to invest in the STANLIB Fahari
I-REIT is the International Finance Corporation (IFC). The organisation,
which is the private sector lending wing of the World Bank, has undertaken to subscribe for up to $15 million worth of units being sold through the IPO.
“The successful establishment of REITs as a liquid financial instrument used to gain exposure to Kenyan real estate will help unlock significant capital resources to fund Kenya’s real estate gaps,” IFC said in a note disclosing the investment.

Media Contact
Paul Barasa
Redhouse PR
Cell: 254 773 072 220
paul.barasa@redhouseke.com

NOTES TO EDITORS:
STANLIB is a Pan-African multi-specialist investment company that manages and
administers over US$46 billion (as at 30 June 2015) in assets for over 437 000 retail and institutional clients across Africa. The STANLIB investment team consists of franchises made up of specialist teams of investment professionals. This allows STANLIB to offer a broad range of investment opportunities, including active asset management, passive asset management, single manager and multi manager offerings across all asset classes: cash, bonds, equities, property and alternative asset classes. STANLIB has operations in 10 African countries.

Its Multi Manager Global Multi-Assets and Global Equity funds are managed by
STANLIB Multi Manager. Columbia Threadneedle, a leading US diversified financial
services company and one of the 30 largest asset management firms globally, looks after developed market single manager equity and multi asset class funds. STANLIB Multi Manager manages global bonds in the multi manager area and STANLIB has a
partnership with Brandywine Global Investments for single manager global bond
funds.
STANLIB Kenya
STANLIB Kenya officially launched in October 2013, after rebranding from Stanbic
Investment Management Services (SIMS). STANLIB is a leading Fund Manager in the
region and has an un-paralleled track record in terms of services and performance over the years. STANLIB manages asset worth over Kshs 121 Billion (as at 31 December 2014).
STANLIB Kenya Limited seeks to be recognised as East Africa’s premier Investment
Manager, dedicated to the advancement of wealth management through the provision
of excellent products, efficient service and customer satisfaction. STANLIB KENYA
Limited has been fully operational since 1998 as Stanbic Investment Management
Services (EA) Ltd and is licensed by the Capital Markets Authority and the Retirement Benefits Authority in Kenya to provide investment advisory and Fund Management Services.
STANLIB Kenya is owned by Liberty Holdings who is the principal shareholder of
Liberty Kenya Holdings Limited, a company which is listed on the Nairobi Securities Exchange and whose other local subsidiaries are Heritage Insurance and Liberty Life Assurance Limited

Have a look at the trading volumes (NSE). Then wait during results announcement. Reason the are marketing products they are supposed to be neutral on i.e. they are supposed to facilitate the trading not take sides with the seller or buyer. But now they got to push the product for their cut to shore up the results.

On this reit, no words. Wakati name dropping is used to market a product things will be thick. On radio when the sales pitch is being asked to imagine you owned KICC, utaachwa tu ukiota!

My main issue with the REIT is that we decided to go with an investment instead of development:

An investment REIT adds no new stock to the real estate market but instead does what I prefer to call a wealth transfer activity where nothing new is created just a change of guard.

A development REIT on the other end is the creation of wealth in that the resultant product looks nothing like the parts that went into its creation. Land, professional skills, artisan skills, stones, mortar and many other components, that benefit many people in diverse professions and businesses, are put together to create a building.


The properties being procured are not prime neither in location nor in current or future returns while the amounts being paid do not seem to have been arrived at in a scientific method.

I will be back on this thread after the listing to see if y'all will have the decency to admit how wrong your predictions were.

I totally agree. This is air being pumped into the property bubble. An exit strategy. Eti "free up money for other developments".

I would throw every dime I have were it a development REIT.