Batian Property Fund, managed by GenAfrica Asset Managers, has officially assumed management of The Cube, a Grade A commercial office property on Riverside Drive, Nairobi.
The takeover follows Batian’s acquisition of the building from Innova Properties, the Kenyan real-estate arm of the London Town Group of Companies.
The takeover is part of a broader strategy by Batian Property Fund to channel institutional capital, especially pension-scheme funds into high-quality, income-generating real estate.
The acquisition of The Cube was completed through the takeover of Riverside Towers Limited, the company owning the property.
On 9 October 2025, the Competition Authority of Kenya (CAK) granted unconditional approval for the acquisition, finding that the merger was unlikely to significantly reduce competition in Nairobi’s office-rental market.
Under the new arrangement, Batian, via Batian Income Properties LLP now controls 100% of Riverside Towers’ share capital. Post-acquisition, the combined entity is estimated to hold roughly 8 per cent of Nairobi’s commercial office space market.
Competition Authority of Kenya noted this share remains modest enough to maintain a competitive market, dominated by major real-estate firms covering the remaining 92 per cent.
In a statement, CAK clarified that, under the relevant provisions of the Competition Act (Cap 504), the deal did not raise competition or public-interest concerns.
For Batian Property Fund, the move reflects a deliberate push to provide pension schemes with access to institutional-quality real estate.
Batian was established in September 2018 precisely to offer portfolio diversification for institutional investors through real-estate ownership.
Batian’s Chief Executive Officer, Timothy Mulondo, said the acquisition strengthens “the bridge between institutional capital and productive real estate,” underlining the Fund’s commitment to delivering structured, transparent investments that safeguard the retirement savings of Kenyan workers.
“Through this acquisition, we continue to strengthen the bridge between institutional capital and productive real estate.
As we continue to scale, Batian remains focused on structured, transparent, and competitive-return investments, ensuring that every shilling entrusted to us works for the retirement security of Kenyan workers,” said Mulondo.
From Innova Properties’ perspective, the transaction marks not an exit but the start of a strategic collaboration.
Her firm’s Chief Executive, Kavita Doshi, emphasised that the evolving pension sector provides fertile ground for partnerships “where innovation meets integrity.”
“This transaction is not an exit; it is the beginning of a strategic collaboration. Kenya’s pension sector is evolving, and we believe the future lies in partnerships like this where innovation meets integrity,” she said.
GenAfrica Asset Managers’ Managing Director, Patrick Kariuki, echoed this sentiment.
He characterised the acquisition as part of a broader effort to expand beyond traditional assets, offering pension funds access to a diversified class of alternative investments that promise stable returns and resilience against market volatility.
The Fund’s publicly stated ambition is to attain a KSh 10 billion target for both income-generating and development assets, a sign that real estate plays a central role in its growth trajectory.
The Cube is widely regarded as one of Nairobi’s premier office developments. Located on Riverside Drive, an area popular with corporate offices, embassies, NGOs, and multinationals, the building enjoys strategic exposure to high-end tenants.
Riverside Towers’ most recent financials report rental income of approximately KSh 60.3 million for the year ended June 30, 2024, underscoring the property’s value as a cash-generating investment.
Under Batian’s stewardship, The Cube is expected to maintain and potentially enhance its appeal among institutional tenants, thereby generating stable yields for investors and contributing to the maturation of Kenya’s commercial real estate market.
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