Last Updated
Tuesday 30 September 2014, 08:00 am.
PrimeTime starts work on P90m Central Square

Last week saw the release of the first phase of PrimeTime’s new CBD development, Central Square. Targeted at the discerning corporate, the P90 million property will be a complex comprising four buildings with offices available for purchase from reasonable small sizes.
By Staff Writer Sat 05 Oct 2013, 12:35 pm (GMT +2)
Mmegi Online :: PrimeTime starts work on P90m Central Square








This comes at a time when the CBD is finally beginning to develop a sense of identity as some of the larger developments are now filling with tenants.  While there remain vacancies in some of the key buildings, occupation levels in the market have increased exponentially over the course of last year.  Joe Simpson, director at leading global property consultancy, Knight Frank, commented, “The pace of office take-up in the CBD has been unprecedented and we fully expect further major acquisitions from large-scale occupiers in the next 24 months. We now expect to see more small and medium sized occupiers, especially from the professional services sector, relocating to service these larger entities dominating the area.

Time’s concept for Central Square appears to be spot on, there are smaller occupiers who have shown a preference for being owner-occupiers, but to date haven’t been catered for in the existing CBD developments and there is demand from investors keen to acquire a long-term investment in Gaborone’s prime office market”.

The 4,600 square metre scheme is expected to complete and be ready for occupation in mid 2015.

PrimeTime is currently building another 5,000 square metres complex, which forms the second phase of the Prime Plaza, which will be occupied by Barclays Bank Botswana.

The first phase of the Prime Plaza is a two-storey building, which was completed last year and is already occupied by CEDA.

According to Knight Frank, stronger than anticipated uptake of office space in the CBD mostly from government or quasi-government institutions has calmed fears of a bubble burst in Gaborone's office accommodation market. On the back of aggressive and speculative construction boom in the CBD and Fairgrounds Park in the past two years, analysts had warned of a looming overheating in the market, due to the teeming growth against a static economy. But now Knight Frank says that state-backed occupiers boosted office take-up in 2012 with parastatals and government departments accounting for up to 65 percent of transactions recorded over the year with a number of the completed schemes now at or close to 100 percent occupancy in the CBD.



BusinessBusiness
Fri 26 Sep 2014, 15:02 pm
Fri 26 Sep 2014, 15:28 pm
Fri 26 Sep 2014, 15:19 pm
Fri 26 Sep 2014, 15:11 pm
Fri 26 Sep 2014, 15:10 pm
Fri 26 Sep 2014, 16:04 pm
Thu 25 Sep 2014, 17:14 pm
Thu 25 Sep 2014, 17:12 pm
Thu 25 Sep 2014, 17:10 pm
Wed 24 Sep 2014, 15:47 pm
Wed 24 Sep 2014, 16:06 pm
Wed 24 Sep 2014, 16:08 pm
Tue 23 Sep 2014, 15:34 pm
Tue 23 Sep 2014, 16:59 pm
Tue 23 Sep 2014, 15:31 pm
Tue 23 Sep 2014, 15:29 pm
Fri 19 Sep 2014, 15:33 pm
Fri 19 Sep 2014, 15:11 pm
Fri 19 Sep 2014, 15:09 pm
Fri 19 Sep 2014, 15:08 pm
Fri 19 Sep 2014, 15:06 pm
Fri 19 Sep 2014, 14:56 pm
Fri 19 Sep 2014, 15:16 pm
Fri 19 Sep 2014, 15:17 pm
Fri 19 Sep 2014, 15:30 pm
Exchange Rates
FOREIGN EXCHANGE: Monday, 29 Sep 2014
FOREIGN / PULA
PULA / FOREIGN
1 USD = Pula   9.2593
1 GBP = Pula   15.0150
1 EUR = Pula   11.7371
1 YEN = Pula   0.0845
1 ZAR = Pula   0.8216
1 Pula = USD   0.108
1 Pula = GBP   0.0666
1 Pula = EUR   0.0852
1 Pula = YEN   11.84
1 Pula = ZAR   1.2171
Banner Image
Stock Exchange
STOCK EXCHANGE: Friday, 26 Sep 2014
DOMESTIC STOCKS
ABCH
720
BARCLAYS
392
BIHL
1137
CHOBE
407
CHOPPIES
410
CRESTA
89
ENGEN
1000
FNBB
359
FSG
235
FURNMART
231
G4S
375
LETLOLE
213
LETSHEGO
266
NAP
212
OLYMPIA
20
PRIMETIME
240
RDCP
203
SECHABA
2701
SEFALANA
852
STANCHART
1200
TURNSTAR
201
WIL
290
IMARA
210
  • Previous
    The Equalizer Poster
    Next
    Masa Centre
    ::: Friday 26 Sep - Thursday 02 Oct :::
    The Equalizer
    The Maze Runner
    Planes: Fire & Rescue
    Hard To Get
    Let's Be Cops
  • Previous
    The Maze Runner Poster
    Next
    Riverwalk
    ::: Friday 26 Sep - Thursday 02 Oct :::
    The Maze Runner
    The Equalizer
    Planes: Fire & Rescue
    Drive Hard
  • Previous
    Planes: Fire & Rescue Poster
    Next
    Gamecity
    ::: Friday 26 Sep - Thursday 02 Oct :::
    Planes: Fire & Rescue
    The Maze Runner
    The Equalizer
    Let's Be Cops
    Moms' Night Out
    Lucy