LLR keeps focus on industrial sector despite shift

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Property investment company, Letlole La Rona (LLR) has maintained focus on the industrial sector as most investors delve into retail property development.

Speaking at the groundbreaking ceremony of LLR warehouse in Gaborone West Industrial site, the company's chief executive, Dimitri Kokinos said although the competition is increasing, LLR has a strong market base as it is focused on industrial development. "Majority of property developers are focusing into retail but we are looking into industrial because competition has risen in the retail development," he explained.

Kokinos said they want to enhance their portfolio and create employment for citizens. "The building was becoming too small for the tenant, Kromberg & Schubert as they expand their operations," he said. This extension development is geared towards increasing the existing warehouse by another 11,000m2. Upon completion, this warehouse would be about 22,000m2. It would probably be one of the largest warehouses that are single tenanted in Botswana," he said. Kromberg & Schubert (KroSchu) started operating in Botswana in 2010. The company started producing electrical wiring harnesses for BMW 3-series in 2012. Production of harnesses for new C-Class Mercedes Benz and new VW Polo will start in 2014.  The extension of the warehouse will therefore result in Kromberg's turnover growth by about 80 percent and employment will increase from 1,020 to 1,850.

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