How to reproduce: check the attached project, the expected behavior would be that the MapPoint object have its text painted
Workaround:
public partial class RadForm1 : Telerik.WinControls.UI.RadForm
{
    public RadForm1()
    {
        InitializeComponent();

        MapLayer pinsLayer = new MapLayer("Buildings Layout");
        this.radMap1.Layers.Add(pinsLayer);
        EmptyMapProvider emptyProvider = new EmptyMapProvider();
        emptyProvider.InitializationComplete += emptyProvider_InitializationComplete;

        this.radMap1.Providers.Add(emptyProvider);
        using (FileStream seatsStream = File.OpenRead(@"..\..\shapes-new\Label_Pk_Boulou2.shp"))
        {
            using (FileStream seatsDataStream = File.OpenRead(@"..\..\shapes-new\Label_Pk_Boulou2.dbf"))
            {
                ShapeFileReaderParameters parameters = new ShapeFileReaderParameters();
                parameters.ShapeStream = seatsStream;
                parameters.DbfStream = seatsDataStream;
                //parameters.CoordinateConverter = new EPSG900913Converter();
                ShapeFileReader reader = new ShapeFileReader();
                List<MapVisualElement> elements = reader.Read(parameters);
                foreach (var item in elements)
                {
                    item.Text = Convert.ToString(((IExtendedData)item).ExtendedData["Text"]);
                }

                this.radMap1.Layers["Buildings Layout"].AddRange(elements);

            }
        }
    }
}