The Rangeview Heights is the latest multimillion kina development in NCD.
The development is undertaken by the National Capital District Commission, Lamana Development Limited and Nambawan Super Limited.
The groundbreaking ceremony was attended by NCD Governor Powes Parkop, Minister for Lands and APEC, Justin Tkatchenko, Nambawan Super CEO, Anthony Smare, Lamana Development Managing Director, Sir Kostas Constantinou, and BSP CEO Robin Fleming.
Rangeview Heights is the latest major development in NCD next to City Hall and opposite Vision City Mall.
Worth K296 million, the development will consist of both a large retail and a residential complex.
The retail complex will feature two commercial buildings with a 280 car park space, while the residential compound will consist of 88 town houses and 140 car spaces.
Nambawan Super owns the largest share of the development with 56.72 percent, Lamana Development owns 30.52 percent and NCD owns 12.76 percent.
The development is expected to be completed by December 2020, and is estimated to provide over 500 jobs during the construction phase and 150 permanent jobs after its completion.