GENERAL NEWS
From the MD ’ s desk
By Brett Marlin
As we head towards December and the builders ’ break , I just want to reminisce on the last year and point out a few highlights of which we can be truly proud .
It really has been a very busy year with the separation of Time Projects into three divisions ; Time Projects the property-owning company , Time A & PM the asset and property management division and Time Developments the development arm of the business . The shareholding in the three companies has not changed and it has been business as usual with the only change being the accounting of the business .
Teemane Mall in Letlhakane was complete and officially opened on 19 November 2022 . Many may not understand the challenges of developing a property in the rural areas , the cost and construction period is totally different from developing in the urban areas where materials are readily available . We certainly had some challenges , especially with the road access approval where the procedures for approval from the Ministry of Transport and Public Works have changed and approval times have become protracted resulting in temporary accesses needing to be used to open the centre . The Ministry really needs to streamline this process as the current system hampers the development process and incurs additional costs , which is unnecessary .
In Botswana , work commenced on both Motswere , the first building in Prime Plaza II and Motswedi Place , the 140 multi-residential unit in Kgale during April . Construction of Barloworld ’ s heavy duty facility started in Phakalane in October . All of these projects are planned for completion in 2023 .
The refurbishment of South Ring Mall was completed in June and the sectional title office development in the Showgrounds , Kgwebo @ Fairgrounds was completed in September . One alarming fact is that we certainly have seen a dramatic slowing down of sales of commercial properties , which we believe is due to the 30 % noncitizen transfer duty effectively excluding all buyers who are not citizens . Hopefully , this can be reviewed as it has had a detrimental effect on the market , which is unlikely to recover under the current transfer duty rate .
Zambia saw the start of the First Capital Bank head office in Lusaka and the redevelopment of the Lusaka Golf Club course that started in June , both of which are progressing really well .
Some of the highlights of the year are the achievements of receiving a 5-star ‘ As Built ’ rating , ‘ Net Zero ’ rating , as well as being runner-up in GBCSA highest rated African submission for 2021 – 2022 for Mashatu Terrace in the CBD . This is really a fantastic achievement . Another notable achievement is Prime Plaza achieving its 5-star ‘ Design ’ rating and we are presently busy with the ‘ As Built ’ rating which will only be reviewed after completion of the building in July .
We have embarked on a solar installation drive with the first two buildings , Mashatu Terrace and Sebele Centre already having solar installed . Lobatse Junction and Teemane Mall in Letlhakane are next in line to have solar plants installed early in the new year . Moving towards a greener future , this is certainly the way to go . Please read the article in this newsletter that shows the savings that can be achieved by using solar power .
As you can see , we have had a really busy year and next year looks to be just the same . We really are blessed by the number of projects we have lined up for 2023 .
We will keep you updated on what we can look forward to in the new year and hope everyone has a peaceful builders ’ break and gets some well needed rest .
ABOUT TIME , the quarterly newsletter of Time Projects Editor : Brett Marlin
Managing editor : Faye-Marie Cloete Email : faye @ novacomms . net Cell : + 267 7137 6232
Contributors : Kagiso Sebetso , John Kelly , Michael Hughes , Mmika Selei , Heinrich Malan , Roy Mapharing , Merapelo Mopaki , Rorisang Macheng and Tapiwa Modise
Tel : + 267 395 6080 | Fax : + 267 390 0160 | Email : time @ time . co . bw | 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 52 - DECEMBER 2022