MASERU — The Matekane Group of Companies (MGC) says it will complete the construction of its first commercial property this month.
Trend Group, the project managers, architectural and quantity surveyors told the Lesotho Times that the property will accommodate companies under the MGC and other private firms.
Lenka Mphafi, the Trend Group managing director, says the property will be called the MGC Park.
“It is anticipated the operations will be complete by end of July. An official opening will be announced later,” Mphafi said.
“The property was initially meant to house all the subsidiaries of the MGC under one roof to ease doing business with the company,” he said.
“However upon research the idea was further improved to erect a structure that would not only accommodate MGC staff but also contribute to answering the need for commercial space in Maseru, and diversify the Group’s portfolio of assets and introduce new revenue streams,” MGC said in a press statement.
The seven-floor complex is now fully let.
It has five levels of office space and parking on the first floor.
The ground floor houses retail shops and include banks and a restaurant.
“Tenants at MGC Park will operate from a building that is aesthetically beautiful. They will also enjoy modern facilities comprising but not limited to the latest technology in automated card access control as opposed to keys, air-conditioning systems, 24-hour surveillance and emergency systems.
“Two elevators and a state-of-the-art skylight staircase grace the property. Water features at the entrance and in the atrium off-set the hive of activity that will become the property once in full operation,” said the release.
The MGC Park is the company’s first attempt to venture into the property market.
The company is also already involved with other projects such as on-going construction of residential property at Mpilo Estate, the development of the Hilton Estate and the second phase of MGC Park.
“MGC hopes that this initiative will inspire more Basotho entrepreneurs to enter the property development market to ignite innovation and development, and stimulate excellence.”