PrimeTime seeks P135 million to develop new properties

In a statement released this week, PrimeTime, which has properties ranging from retail, industrial and office, says that their related company Time Projects, has tendered the two properties to them.  

The company says it is going to borrow P100 million to develop a shopping complex, Sebele Centre, in Gaborone's Block 10 area. PrimeTime will purchase the piece of land from a 50 percent owned subsidiary of Time Projects. "Primetime will then enter into a development agreement with Time Projects, to build a shopping centre on the land, with an estimated cost of P 100m for both the cost of the land and the development," read the statement. In the second project, the company will contract to purchase 75 percent of a plot of land in the Central Business District in Gaborone, which is owned by a 100 percent non-trading subsidiary of Time Projects.