RDC Investment and Property Portfolio Up 153%

  • Company makes fair value gain of P36.6m on investment property
  • Profit after tax grows from P22.2m to P647. 3m
  • RDC realises revenue growth of 11.4% to P146.6m


The investment and property portfolio of diversified property outfit, RDC Properties, increased by 153 percent from P2.29 billion in 2020 to P5.82 billion in the year that ended 31 December 2021, RDC Executive Chairman, Guido Giachetti, has said.

Noting that the increase was primarily due to acquisitions undertaken by the company, Giachetti said 43 percent of the entire portfolio has been independently valued, which reflects in a fair value gain of P36.6 million on investment property.

This is the Group that realised revenue growth of 11.4 percent from P131.6 million in the prior year to P146.6 million in the year under review.

RDC’s profit after tax increased substantially from P22.2 million in the prior year to P647. 3 million in the year that ended 31 December 2021.

According to Giachetti, the commercial property portfolio has been resilient in Botswana, as reflected in the fair value gains realised through the independent property valuations as at December 2021.

“Collections for the year stood at 96 percent, including some P8.5 million of rental converted to long-term loans to assist tenants with liquidity and enable them to trade out of this crisis,” he said in the Group’s financials released recently. “The hospitality assets were under continued pressure and underperformed through the lockdowns and travel restrictions. The global vaccinations programmes and the pent-up demand for leisure travels herald a positive outlook for the tourism industry in 2022/23.”

He singled out RDC’s key leisure asset, Chobe Marina Lodge, for enjoying good trading conditions through the fourth quarter of 2021. “The Protea Hotel by Marriot, Masa Square faced challenging trading conditions and a pro-longed recovery,” Giachetti said. “The hospitality teams are working tirelessly to contain costs, maintain standards and protect the value of these key assets.”

He noted that in South Africa, the Capitalgro portfolio’s performance has remained solid and has distributed some R26.2 million to shareholders, representing an interest rate of 8.3 percent on shareholder loans. The iconic Radisson Red Hotel in Rosebank opened its doors in the third quarter of 2021 and, with its trendy offering and niche art focus, has become the place to be in Rosebank.

RDC Properties Limited is a variable rate loan stock company that develops and invests in modern commercial, industrial and residential buildings in various locations in Botswana, South Africa and Madagascar, among other countries. The company operates through the property rentals segment.