Acorn to invest KSh2.2bn in new rental housing projects

The Capital Markets Authority (CMA) has approved Acorn Holdings Limited’s plan to establish a build-to-rent development real estate investment trust (D-REIT) aimed at expanding Kenya’s affordable housing rental market for young urbanites. The 2.2 billion shillings project will see Acorn receive funds committed by three entities, among them a global multilateral organization, private infrastructure development group (PIDG), which has committed 10 million dollars, equivalent to 1.3 billion shillings in equity investment to anchor the new investment.