RDC Properties revenue up by 4 percent

BG reporter
Tuesday, 18 August 2015
RDC Properties revenue up by 4 percent

RDC Properties has this week posted positive half-year results for the period ended 30th June 2015, which showed a 4 percent hike in revenue from the prior year. According to the company’s statement, revenue increased to P39.6million in 2015 from P38.0million in 2014.

The investment and property portfolio increased by 11 percent to P963.2million from P868.8million in 2014.The statement signed by the group’s chairman Guido Giachetti noted that the company directors are positive for the years to come as the effect of the Masa Centre and new developments will underpin the growth of the group. Masa Centre continues to perform very well and the revenue has increased 12 percent to P18.4 million in 2015 from P16.5million in 2014. This is due to rental escalations, the growth of the Lansmore Masa Square Hotel turnover rental and reduced vacancies at the centre.

The statement further revealed that, 2016 will witness the opening of the new Masa Suites as the project has now received approvals from all authorities and that work has started. “We are pleased to report that vacancies over the whole portfolio have decreased from 5.2 percent at December 2014 to 3.67 percent as at June 2015. Masa Centre now only contributes 47 percent of the vacancies from 69 percent in December 2014. The Gaborone West warehouse project is in line for completion end September 2015 and will be within budget,” reads the statement.

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