Khumo properties has intensified its efforts to reshape the property landscape across its portfolio by bringing more developments, and face lifting with international look in all its properties. Briefing the media on Thursday, Khumo Properties Retail Property Manager, Mariam Nkitseng said they are currently working on a series of projects, including the construction of Nandos drive through at airport Junction mall which is expected to be completed by November this year.
“We are aiming to keep on adding more things which are not there in the country to enhance the value for our properties and give it an international experience for our clients.” She said Airport junction mall has been experiencing vacancies. “We keep looking at what needs to be done. After Covid-19, food courts were mostly affected, so we are trying to come up with ways to make this work.”
Among other developments is the redevelopment of Blue Jacket Plaza in Francistown. Nkitseng says it will attract more retail tenants as it is strategically located where there is traffic of consumers. Development started in June and upgrades include the introduction of an escalator, the first floor being made more appealing, as well as the addition of more retail space. Nkitseng said they are working around the clock to make the mall attractive.
“We are operating in a competitive environment and remaining relevant is key hence we are upgrading our malls. We will be moving some retailers to the upper floor and adding more shops." Khumo Property Asset Management is a joint venture between Botswana Insurance Fund Management (BIFM) and Eris Property Group of South Africa, and was formed in November 2005.
BIFM is the largest fund manager in Botswana with over P23 billion worth of different asset classes under management. Eris Property Group, formerly Rand Merchant Bank Properties (RMB) has more than R22 billion property assets under management in southern Africa. Eris has specialist experience in property development, leasing, investment broking and valuation.