The new Central Business District (CBD) has established itself as a preferred destination for business travellers looking for a one-stop centre for business meetings and entertainment, RDC Properties says.
In their financial results for the half-year ended 30 June 2014, the Botswana Stock Exchange listed company stated that there is growing interest from stakeholders in relocating from the Main Mall and other areas to the new CBD.
“The strategic positioning of MASA Centre in the new CDB and its mixed nature will enable the group to benefit from the concentration of business in the new CBD.”
The company’s Board has further allowed the management to implement the strategy of investing in prime residential areas.The company is said to have identified few opportunities to that effect. To further take advantage of the demand in the CBD the property company is looking at the possibility of increasing hospitality offerings of the Masa Centre.
“Thus removing from the available space approximately 200 square meters of office space and converting it to serviced apartments.” Meanwhile, earlier the company had stated that residential and sales market still remains very solid in Botswana. Giving his statement in the Group’s 2013 annual report, RDC Properties Limited Group, General Manager, Jacopo Pari said the sector’s main resilience is attributed to the growing demand for affordable housing bracket, as it keeps on recording growing demand from young professionals and various classes of individuals who are being considered by major industry players especially within the Gaborone and surrounding areas.
“The market is gradually maturing to a point where major purchase considerations now include location, quality and cost effectiveness of future developments especially within corporate.”Furthermore, considering the demand in residential, Property and Asset Management Limited on behalf of RDCP has commenced the feasibility and analysis of the residential housing scheme with a view of ensuring the development addresses the current needs of the market.
“The development shall comprise of one, two and three bedroom lofts with terraces and will be within the ambits of affordable housing scheme,” he said, adding that they will provide the public with progress made during the year.RDC properties points that the property market in Botswana continues to mature and the demand for both good commercial and residential properties remains high.
In terms of new projects RDC properties has received approval from authorities for the development of mini industrial units in Gaborone West. The project is said to be well on track and on time.