NAIROBI, Kenya, Oct 23 – Projects under the Two Rivers International Finance and Innovation Centre (TRIFIC) will now enjoy faster government approvals after being designated a Project of Strategic National Importance by the State Department for Lands and Physical Planning.
The designation, announced by the Ministry of Lands, Public Works, Housing and Urban Development, means that all TRIFIC Special Economic Zone (SEZ) projects will be assessed, approved, and facilitated directly by the national government, bypassing lengthy bureaucratic procedures.
“This will translate to a faster approval of TRIFIC projects and processes, assuring our investors of timely delivery,” said TRIFIC Chief Executive Officer Brenda Mbathi.
Following the designation, TRIFIC will now apply directly to the national government for approvals relating to amendments to its Master Plan, new building developments, change of user applications, renovations, and lease renewals.
Under Section 69(4) of the Physical and Land Use Planning Act, 2019, the Cabinet Secretary for Lands and Physical Planning is empowered to grant development permissions for projects classified as being of national importance.
“Ultimately, the project will be well positioned for exit at a good return to the providers of capital,” added Ms. Mbathi.
TRIFIC SEZ is a wholly owned subsidiary of Centum Investment Company, which is listed on the Nairobi Securities Exchange (NSE).
The 64-acre TRIFIC SEZ, located within the wider Two Rivers development, received its Special Economic Zone licence in June 2023.
Centum, through its subsidiary Two Rivers Land Company (SEZ) Limited, plans to establish Kenya’s first US dollar–denominated Income Real Estate Investment Trust (I-REIT), with the TRIFIC North Tower as its first acquisition, pending approval by the Capital Markets Authority (CMA).
The TRIFIC North Tower has already achieved full occupancy with plans underway to develop additional Grade A office spaces.
Notable international firms operating within TRIFIC SEZ include Teleperformance, Technobrain, and Dalberg, among others.
