RDC sheds P216m worth of properties to prop up balance sheet :: Mmegi Online

Locally listed property giant, RDC Properties, has shed over P216 million worth of non-core assets in a portfolio clean-up exercise, as the property group moves to strengthen its balance sheet and reposition for a tighter economic environment.

The property group, which owns assets such as Chobe Marina Lodge and Masa Square Centre in Gaborone, to name a few, said the disposals, concluded at an eight percent premium to book value, form part of a deliberate shift to improve portfolio quality while recycling capital into stronger-performing assets.

Most of the assets dumped were mainly in South Africa, such as the Sparrow Shopping Centre, which was sold for R60 million and the Regent Building in Cape Town, which sold for R150 million, with the company's executives eyeing no major disposals for the Botswana market.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

property
ECONOMY

RDC sheds P216m worth of properties to prop up balance sheet

Locally listed property giant, RDC Properties, has shed over P216 million worth of non-core assets in a portfolio clean-up exercise, as the property group moves to strengthen its balance sheet and reposition for a tighter economic environment.

Explore

More

BGI under fire over multi tenders awarded to one consultancy

Political fame costs family time

Mogae: The intellectual democrat

BDF sheds off bad boy tag for Mogae

Botswana, SA demand results in agreements

SA seeks increased presence of Botswana companies

Faulty DPP bid to seize dead man’s assets collapses

Poultry sector shake-up signals new era for citizen entry

Warm relations must not come at the expense of fair trade