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Publish Date : 16-Feb-2013

A N$430-million loan was sanctioned by ABSA Bank for Oryx Properties to redevelop Maerua Mall and to refinance some of the listed property fund\'s existing debt.

On Wednesday, Absa Namibia managing director Marius Alberts said, “Together, we created something great.”

“Something that will be of service to the Namibian nation for years to come, something that creates jobs in our community, and something that provides financial benefits to all of those who participate in the ownership of Oryx Properties through the Namibian Stock Exchange.”

Initiated in last April, the Maerua project, is scheduled for completion in November. It will generate 3050 square metres of new office space, 8 300 square metres of new retail space and 925 additional parking bays.

The project is also designed to improve the entire shopping centre and traffic flow around Maerua.

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