Nairobi, July 5 -- Centum Investment Company and Mi Vida Homes are in a race to raise funds from the country's first real estate asset-backed security in the private sector as the two firms grapple with the pressure of inadequate long-term capital that aligns with the reality of property investments.

An asset-backed security (ABS) refers to a financial instrument that is backed by a pool of income-generating assets, such as rental income from housing units, allowing both institutional and retail players in the capital market to invest and therefore deploy long-term capital into it.

The pioneer ABS was in July 2025 when the government raised Sh44.79 billion from debt investors who will be paid an annual interest of 15.04 percent from fut...