Turnstar leads property industry growth

 

Arguably the largest property and asset management company, owners of Game City Mall, Turnstar Holdings, led the growth in Botswana’s property industry.A report by Investment Property Databank (IPD), an international property assessment company, has revealed that Botswana’s property industry saw a 21 percent growth in 2011.

The growth was attributed to a contribution from major asset and property management companies like Botswana Insurance Fund Management Property Portfolio, Debswana Pension Fund, Letlole La Rona Limited, Motor Vehicle Accident Fund, Primetime Property Holdings Limited, and Turnstar Holdings Limited. However, Turnstar, the Botswana Stock Exchange listed outfit is the largest of them all, with a market capitalization of P800 million, and assets worth over P1.5 billion.

In 81 measured properties valued at P2 billion, retail sector led all the sectors accounting for 48 percent of the total property value. Office property followed with 28 percent, residential and others followed with 4 percent and 20 percent each.Capital returns accounted for 9.2 percent while the income returns recorded a 10.8 percent return.