(2015-08-21) The Botswana Stock Exchange listed company, RDC Properties is diversifying its business interests across the Southern African region, with new developments earmarked for South Africa, Madagascar, Namibia and Mozambique.
Briefing the media on their half-year results to June 2015, in Gaborone recently, company CEO Guido Giachetti said RDC has signed a Memorandum of Understanding with its business counterparts in Cape Town, South Africa, for the development of a hotel in the resort town’s Central Business District (CBD).
“This hotel joint venture is located in the city’s CBD, in the outskirts of the Parliament buildings and the city’s central high court chambers.
The hotel will house more than 180 rooms and conference facilities, thus making it a suitable place, considering that while most business people would also prefer value for money, the hotel will be located in a great location, which is ideal for business executives,” he said.
The company stated that other regional prospects are in Madagascar, Namibia and Mozambique, with primary focus on prospecting on gas and oil.
Giachetti stated that the investment and property portfolio has grown by 11%, which now stands at P963.2 million, as compared to P868.8 million in the 2014 financial year.
“Although the recent IPD Botswana Annual Property Index 2014 report shows a decline in the Botswana property market, totalling ungeared return from 21.5% in 2013 to 11.5% in 2014, we are pleased to report that the company’s return for the same period was 15%, and this is very good,” he said.
Giachetti further stated that while appreciating the business and market turbulences in the property sector in the region, RDC continues to bravely upscale its business ventures at local and regional levels.
“The group’s expansion drive is expected to further improve the status of the well balanced portfolio across various segments, hence we will be extending the development on Plot 22018, which is a new development of course, of a Gaborone West Warehouse.”
Another project that RDC is working on is the hospitality extension of Masa Suites adjacent to the Lansmore Hotel.
According to RDC Chief Operating Officer, Uzoma Anugom, construction just above the west wing of the current structure of the premises, have commenced.
He said the structure would consist of 30 units of serviced apartments, with an option of self-catering, with single bedroom suites and studios. He said work on the fully furnished suites are at an advanced stage, adding that they anticipate that this will give Gaborone a taste of European inspired luxury.
RDC is introducing another new development at ICC Flats in Gaborone’s leafy suburb of Extension 9. “This development is envisaged to comprise of 45 new flats in three different blocks. This will include two blocks comprising 18 flats and one block with 18 flats each, just to mention a few. Due to space optimisation and safeguarding of density ratios, one of the existing blocks of six apartments are expected to be demolished. A total of 39 flats to be developed in this project,” Giachetti said.
Source: Mmegi Online
Photo: File / Guido Giachetti
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