GENERAL NEWS
From the MD’s desk
By Sandy Kelly
This quarter I have decided to share some short
questions and answers that we are often asked
about our business and the property industry.
Q. What is the Botswana property market like?
A. It is generally pretty slow and has been for a few years due to a
sluggish, listless economy which I’ve commented on before (remember
us searching for tailwinds). The residential market is stymied by lack of
demand and lack of funding. The office market, contrary to reports of
oversupply, still presents some good opportunities in niche markets. Good,
well designed, sized and located properties will generally always attract
tenants. Rentals have softened a bit. Retail, strangely enough, despite the
economy remains strong and most centres are trading well. Industrial is
slow and rentals are low due to poor demand and economy.
Q. What about the issue of trading licences for the South
African retailers? Has it been resolved as stated in the
press release from the Ministry of Trade & Industry a
few months back?
A. Well, yes and no. It’s been a year since our Pilane Crossing
shopping centre opened, but only now are most of the traders about to
open. One still hasn’t resolved conditions with the ministry. For now, it
looks like the current impasse has been sorted, but who knows how it
will pan out. For instance, take Palapye where there are four centres in
various stages of development, but who knows if the retailers will get
licences or what the consequences will be for the developers who are
mostly private individual citizens.
Q. Why is Time Projects active in Zambia?
A. Well, when conditions at home are not favourable, we look
elsewhere and Zambia, despite some challenging start-up issues, is
proving relatively good for us so far.
Q. Why did you go outside Botswana?
A. To seek opportunities. To diversify our risk. We don’t want to put all our
eggs in one basket. In effect, Botswana has motivated us to look elsewhere.
Q. Why Zambia and not somewhere else, like South
Africa or Mozambique?
A. SA has immense issues as we know, but with that comes
opportunities. But, competition is too great for us to manage unless we
are very much there, full bodied on the ground. Mozambique and other
ABOUT TIME, the quarterly
newsletter of Time Projects
Editor: Brett Marlin
countries have security of tenure, funding, legal and other issues. But,
we are looking and when we find the right path, we may well take it.
Q. How do you see Botswana in the next five years?
A. Botswana is very stable and will remain so. The transition of
presidents early next year will be vital in seeing how the elected
president will perform and how the populace will react.
Q. What do you attribute to Time Projects’ success?
A. Largely, our success is a result of our attitude towards our customers
and peers. Showing respect, giving them what is deserved and by
performing honestly, efficiently and diligently to the best of our ability in
our fields of competence.
Q. Your developments look much as you would find in
Johannesburg, Cape Town and even overseas?
A. Well, it doesn’t mean to say that since we are in Botswana, another
‘African’ country, we should accept anything substandard. Why not put
in that extra effort and keep with the times? It doesn’t cost much more to
do it properly.
Q. What is all this talk about green building practices?
A. You can read more about it in our newsletters, but it’s not just
something that’s nice to do or about being environmentally friendly for
the sake of it. It really does bring economic, long lasting and healthy
living to all of us for very little increase in capital cost which is redeemed
easily in the running of our buildings. For example, it could just be
something simple like orientating our buildings the right way to prevent
sun ingress which we’ve been doing since the day we started here in
Botswana over 30 years ago. If only the authorities would get with the
program, we could start contributing power back into the grid!
Q. You seem to be a happy bunch at Time Projects. What
is the reason for this?
A. We have a family or team culture of no back-stabbing or bringing
others down, but rather offering a support platform.
And of course, About Time for a beer did I hear you ask?
Managing editor: Faye-Marie Cloete
Email: [email protected]
Cell: +267 7137 6232
Contributors: Sandy Kelly, Brett
Marlin, Turnie Morolong, Heinrich
Malan and Chabo Mbikiwa
Tel: +267 395 6080 | Fax: +267 390 0160 | Email: [email protected] | Website: www.time.co.bw
ABOUT TIME is published on behalf of Time Projects by Nova Communications (Pty) Ltd.
The opinions expressed in this newsletter are those of the authors and people interviewed and do not necessarily reflect the views of the editor, publisher or Time Projects. While all
precautions have been taken to ensure accuracy of information, the editors and publisher cannot accept responsibility for any inaccuracies which may inadvertently have occurred.
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ISSUE 31 - SEPTEMBER 2017