The company reported that revenues of P571.8 million were recorded during the period, which was better than the P561 million in 2023 rounding up with a profit before tax (PBT) of P174.5 million. RDC’s total asset value is now at P5.92 billion, reflecting its continued expansion in different international markets. The company has flagship assets such as the Masa Centre, VMD Kvart and Cape Quarter in Cape Town and has the largest portfolio of investment properties listed on the BSE. The group has also made significant strides in reducing its vacancy rate, which improved to 8.2 percent in 2024 from 11.3% in the previous year. “This improvement underscores the effectiveness of RDC Properties’ leasing strategies and the growing demand for its properties across key markets.
” In response to market volatility, the group has implemented currency hedging measures aimed at mitigating the risks associated with foreign exchange fluctuations. Given its diversified portfolio spanning multiple countries, RDC Properties has taken proactive steps to protect its earnings from currency depreciation and market uncertainties. Additionally, interest rate hedging mechanisms have been put in place to shield the company from rising borrowing costs. These financial risk management strategies have helped stabilise cash flows and protect shareholder value. Despite challenging global economic conditions, RDC Properties has demonstrated resilience, leveraging its strong asset base and strategic financial management to deliver robust results.
According to directors, the company remains focused on optimising its property portfolio, enhancing tenant retention, and exploring new growth opportunities to maintain its upward trajectory in the coming financial years. The results come at a time when the market is closely eyeing the company after declaring its interests in pursuing a hostile takeover of PrimeTime, a rare occurrence on the local bourse. Since early 2024, RDC Properties has been seeking 50+1% of PrimeTime's units and promised to issue at least 91 million new RDC units to cover this, giving a face value for the deal of P218.4 million. The ratio of 0.6875 RDC units for every one PrimeTime unit is based on the price of the BSE price of P2.40 for RDC's units and P1.65 for PrimeTime unit as close of business on June 20 last year. The process has seen multiple developments including a temporary freeze due to regulatory concerns. The local bourse’s March 2025 decision is anticipated will provide clarity on the future direction of the unsolicited bid by RDC.
