RDC Properties Limited plans to step up development opportunities in Namibia, Mozambique and South Africa during the year.
Group Managing Director Giudo Giachetti told BG Business in an interview that they intend to develop a business hotel in Cape Town Central Business District during the year. Locally, developments include completion of 14 warehouses in Gaborone West industrial, which should be ready for occupation soon.
The Group is about to complete 30 suite apartments at Masa Centre as an addition to the hotel’s offering. It is also starting construction in Extension 9 on former ICC flats. Upon completion Giachetti said that they will gauge the appetite for flats, and if positive, build more flats in Towing.
He said the Group has already acquired hospitality and residential sectors in its efforts to diversify its portfolio. Furthermore the Group’s foray into the region will assist with hedging the risk of having only locally based investments. Of all the Group‘s subsidiaries RDCP performed best last year as it managed to acquire into its portfolio most of the properties that were previously in joint ventures.
All these increased the asset base of the group. RDCP was able to raise P232 million for investments not only in Botswana but also within the Southern African region.