LLR eyes retail growth with Phikwe mall project
Pauline Dikuelo | Thursday June 12, 2025 12:15
The move is part of LLR's ongoing strategy to diversify and strengthen its property portfolio across Botswana.
This week, the company, which is listed on the Botswana Stock Exchange (BSE), released a statement informing its unitholders and investors that JTTM Properties is in the process of executing binding transaction agreements.
“These agreements remain conditional upon the fulfilment of certain conditions precedent,” reads a statement.
The investment comes at a time when Selebi Phikwe is anticipated to experience a significant economic rebound, largely due to the expected re-opening of BCL Mine by Premium Resources next year. The Canadian firm acquired key assets of the defunct BCL Mine and has announced plans to re-establish commercial operations at BCL in the northeastern town
The news has already sparked optimism in the town with property prices beginning to tick up as investor confidence returns.
By positioning itself early through this mall development, analysts said LLR is tapping into the town’s renewed growth potential. The strategic timing reflects the company’s proactive approach to capturing opportunities in emerging markets and supporting economic revitalisation efforts in significant towns.
Letlole La Rona already owns and manages several retail properties across Botswana through JTTM Properties. These include Rail Park Mall and The Fields Mall in Gaborone, as well as Maun Shopping Centre in the northwestern tourism hub. The planned addition in Selebi-Phikwe would mark a significant expansion into eastern Botswana, reflecting LLR’s commitment to supporting regional development while delivering value to its unitholders through income-generating assets.
LLR was established in 2011 as part of a divestment attempt by the Botswana Development Corporation (BDC) through an initial Public Offer and subsequent listing on the BSE. It operates through the industrial, retail, and commercial office space property segments.
The company holds direct investment in 24 properties and owns shares in three real estate investment vehicles with the majority located in Gaborone.