RDC Properties, which last year attempted a takeover of PrimeTime Properties, has concluded a strategic investment transaction that gives the Botswana-listed property group exposure to a major redevelopment project in Stellenbosch, prompting the company to withdraw a cautionary notice previously issued to shareholders.
The company said it has acquired a 30% equity stake in a development company behind the Bergkelder Precinct project and has also provided a working capital facility totalling R175 million, comprising R150 million for the investment and R25 million in additional funding.
Located within the Adam Tas Corridor in Stellenbosch, the Bergkelder Precinct is a phased mixed-use redevelopment opportunity spanning about 12.7 hectares. The site includes the historic Mons Cellarium buildings and neighbouring industrial properties earmarked for transformation into a high-density precinct with retail, residential, hospitality, commercial and public-use components.
RDC said the investment offers controlled exposure to long-term value creation in what it described as a premium and supply-constrained property node. The company added that the deal structure includes capital and governance controls, while creating opportunities for net asset value growth, hospitality platform integration and multiple monetisation routes.