Nairobi, June 18 -- Centum's dollar-denominated TRIFIC property fund has met its target of raising Sh3.86 billion ($29.83 million), unlocking funds for the construction of an environmentally friendly commercial property in the special economic zone.

The offer was slightly oversubscribed at 103.3 percent, underlining significant investor appetite for the income real estate investment trust.

Investor bids topped Sh3.99 billion ($30.81 million) against the subscription offer of Sh3.86 billion.

The Two Rivers Special Economic Zone (TRIFIC), which was the promoter of the offer, took up units valued at Sh966.1 million ($7.45 million) in the i-REIT after transferring the TRIFIC North Tower to the property fund, in which it became the first as...