Trustco takes over Elisenheim property developers

Diversified group, Trustco Holdings has announced the acquisition of the Elisenheim Property Development Company for N$300 million subject to regulatory approval, and that of the company’s board and shareholders.
In a statement released on Thursday, Trustco said it had, through its wholly-owned subsidiary, Trustco Property Holdings, signed a sale of shares agreement with Philco Twenty Two (Pty) Ltd for the entire shareholding in Elisenheim Property Development Company.
The Elisenheim Property Development Company owns a portion of Farm Elisenheim which consists of 1186 hectares and is an approved Township.
Town planning on the land is envisaged to include 6000 erven, five churches, three schools, general residential, retail and commercial business zones, a nature estate with hotel sites, equestrian facilities and stables, a nature camp and various trails and outdoor facilities.