Prime property rentals sink to ten-year low
Friday, April 24, 2015
Sustained new developments in the CBD have knocked down rentals around town
The prime rent, usually quoted in US dollars, is defined as an average rent of the top 3-5 percent of all lettings in each submarket.
According to the Knight Frank Africa 2015 report, the supply of office space in Gaborone currently outstrips demand due to sustained developments, which have largely focused on the new CBD.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...