BITC seeks PPPs in property projects
Keikantse Lesemela | Tuesday October 21, 2014 17:02
Speaking at the Property Expo last week, BITC Executive Director for Business Facilitation, Reginald Selelo said the institution did not have the financial capacity to develop the land hence their requisite to form partnerships with the private sector.
He said government had taken deliberate effort not to service the land since the 1990’s but had recently decided to partner with the private sector in an effort to provide adequate space for property investors.
Selelo explained that although the institution had been allocated 300 hectares, their envisaged projects would probably require an additional 200 hectares of land. The centre was allocated land in eight areas around the country, which included Selibe Phikwe (4,2 hectares), Palapye (37,5 hectares), Artesia (13,5 hectares), Tlokweng (16 hectares) and Gaborone CBD (one hectare).
“There are opportunities for the private sector to take part in servicing land. Looking at the current financial status of the institution we are seeking more partners in the private sector to take part in serving the land,” he said.
He added that government wanted to stop providing sub-serviced space to investors, to encourage individuals and the private sector to participate in property development.
Ceasar Tshupelo of Design 360 Architects said one on the challenges they faced was that most of the land is not serviced, which makes it costly for developers to invest in. “A lot of our land is not serviced and that is why Botswana Housing Corporation spends a lot of money on financing infrastructure development,” he said.
He added that developers had to consider urban areas as lucrative property investment hubs since property in Gaborone was becoming more expensive.
Tshupelo suggested that local authorities should collaborate with stakeholders such as Botswana Power Corporation and Water Utilities Corporation to facilitate easy infrastructural development.