By: Uaueza Kanguatjivi
Oryx Properties has spent N$62.3 million on its Maerua Mall development project thus far, following N$38 million capital expenditure on the project during the six months between 1 July and 31 December 2024.
The property firm has also made N$7 million in capital commitments towards the first phase of the Maerua Mall Retail refurbishment project during that period.
The project was expected to be fully completed in December last year after the firm acquired a N$47 million ABSA development loan to finance the mall’s first expansion phase.
Overall, total capital expenditure during the six months amounted to N$74 million, including N$38 million for Maerua Mall and N$19 million for the Goreangab development, bringing the total expenditure on these projects to N$62.3 million and N$59.2 million, respectively.
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