Backing retail property assets with flexible financing built for growth

Acting as a joint lender and transactional bank, as well as the sole provider of interest-rate risk hedging, Absa’s financing delivers capital certainty and flexibility for Soma Properties Limited’s shareholders and management. This support ensures the ongoing development of the asset, enabling Sarit to better serve its tenants and shoppers by offering a diverse range of goods and services to the Westlands community and across East and Central Africa. The financing was structured to support Soma Properties Limited’s expansion ambitions and long-term value creation.

The multi-currency debt package, combined with interest-rate hedging, mitigates market volatility while strengthening the sustainability of a highly cash-generative real estate asset. Located in Westlands, Nairobi, Sarit offers over 1M square feet of built-up area, offer a comprehensive local and international tenant mix - including Fashion & Luxury, Beauty & Wellness, Home & Lifestyle, Technology, Financial & Professional Services, Food & Dining, Everyday Essentials, Family & Entertainment - alongside a column less Expo Centre that hosts versatile events and experiences.

By backing this landmark asset, we are supporting a critical retail ecosystem in East and Central Africa that underpins economic activity, enables businesses to thrive, and delivers essential goods and services to the surrounding community.