Prime Time has signed a development and project management deal with Time Developments Botswana, worth over P2.5 million for the development of Prime Plaza II in Gaborone’s Central Business District (CBD). According to the company, the contract is in line with long-term strategy of holding high-quality assets, to improve returns over the long-term. “PrimeTime has substantial assets in Gaborone’s CBD, this further development will position the company well to take advantage of new requirements that are expected to come to the market in the near future,” said PrimeTime Board Chairman, Paul Masie. Time Developments has extensive experience in developing and tenanting offices, having developed more than 30,000 m2 of offices in the market over the last decade. The two companies have worked together on several developments, including Sebele Centre, Design Quarter, Pinnacle Park, Pilane Crossing and Pinnacle Park. Prime Plaza II will have a leasable area of approximately 2,800 m2 of offices and two basement parking levels. Meanwhile, Prime Time Property and Asset Manager, Sandy Kelly recently announced that the company’s Pinnacle Park has been filled with tenants. He further said the company has also made substantial progress with the new Lobatse Junction retail mall completed in 2021. “This was achieved with 100 percent of the space already committed to by a high-quality tenant mix and we are optimistic on its future,” said Kelly. He said the development will play a key role in Lobatse’s future with the investment leading to the creation of substantial employment opportunities in the town.
Time Developments secures Prime Plaza II project
Wednesday, June 22, 2022