FPC property value reaches P1.3 billion

SHARE   |   Tuesday, 21 March 2017   |   By Staff Writer

The Far Property Company (FPC) rental income has increased by 10 percent from P48, 3 million in December 2015 to P53, 4 million for the 2016 financial year. In the financial results that were released on Friday, FPC maintained a strong assets growth and reduced the loan asset ratio. FPC, which listed on the Botswana Stock Exchange (BSE) last year, says the portfolio is well balanced with the industrial accounting for 48 percent; commercial taking 36 percent while residential makes 16 percent of the portfolio. Value of the portfolio currently stands at P1.29 billion and prospects are said to remain strong backed by long term leases. FPC is also looking into regional expansion with acquisitions of new properties in South Africa and Zambia said to be under negotiation.