BR Properties re-brands for market penetration
Keikantse Lesemela | Wednesday July 16, 2014 10:16
The company started in 2007 with a five-year conceptual business plan, which elapsed in 2012. A review was undertaken, resulting in the formulation of a three-year organisational strategy, which was adopted in 2013.
Speaking at the launch of the new BR Properties logo, board chairperson, Lesedi Moakofhi, said the review, which covered the company’s business model, is intended to ensure the company remains relevant to its mandate, strategy and the market.
“The new strategy which is a growth strategy has two focus areas being, the asset optimisation through a service offering and a service offering which is tailor made to the specific requirements of the customer whilst being profitable to the business”.
BR Properties portfolio includes RailPark mall, Gaborone Container Terminal (GABCON) and other BR operational facilities. Moakofhi explained that in order to improve the low financial performance of BR the company took a step to position itself and diversified its client base.
As part of the review on the strategy BR properties undertook a study into the local property market through the assistance of Probe Market Intelligence, in which 10 companies participated.
Moakofhi said the findings indicated that the top five players in the market include Time Projects Botswana, Turnstar Holdings, Khumo Property, PrimeTime Property, Botswana Housing Corporation and Knight Frank. However Apex Property stood out fourth out of six aspects investigated on branding in the research. “These aspects include logo design, marketing and advertising, brand awareness and relevance to customer needs. As BR properties we were recognised only once as a developer. This therefore reinforced the need to re-brand,” she said BR Properties managing director, Oarabile Zikhwa said they intend to transform the organisation and promote profitability as they engage private sector investment. “BR Properties was established to manage and unlock the value of the property currently owned by Botswana Railways and generate profit for the company,” said Zikhwa.
She explained that through partnership with the private sector, BR Properties facilitated the development of Rail Park Mall in 2011 and it also aims to do the same in Francistown. “Botswana Railways has been given a large piece of land around its facilities and that land is being wasted but through this company we want to develop this land and generate profit for Botswana Railways,” said Zikhwa.
BR Properties (Pty) Ltd was established after the revision of the Botswana Railways Act in 2004, which allowed for commercialisation of Botswana Railways’ land. It was established as a vehicle to exploit Botswana Railways prime land along commercial lines by partnering with the private sector, individuals and public organisations with good property management practices.