PrimeTime�s P29m Setlhoa retail park due in August
Pauline Dikuelo | Friday January 19, 2018 15:48
The development adds to the listed group’s portfolio, bringing the number of its properties countrywide to 18. PrimeTime managing director, Sandy Kelly said the Setlhoa development, to be known as the Design Quarter, will have a retail park concept for the home décor and design sector.
“The new Design Quarter under construction at Setlhoa offers an exciting opportunity for tenants to be part of this first time concept in Botswana,” he said, in the group’s recently released annual report.
Locally, PrimeTime has nine properties in Gaborone, two in Francistown and others in Serowe, Lobatse, Gantsi, Pilane and Ramotswa. Over the years, PrimeTime has continued to grow its portfolio from an initial portfolio of 13 properties valued at P193 million at its Botswana Stock Exchange listing in 2007, to 25 across Africa valued at P1.12 billion.
Kelly expressed optimism about PrimeTime’s Pilane Crossing Mall becoming the “successful retail centre it was originally envisaged to be”. The Mall had a troubled beginning, following licensing dispute with the Ministry of Investment, Trade and Industry.
“In terms of major refurbishments, our plans for some additional space and improvements at the Ramotswa Mall are still on the table as are the extensions to some of our ground lease periods,” Kelly said.