Connect with us

Hi, what are you looking for?


Construction projects saturate office space market

Construction projects saturate office space market

The market for office space remains weak due to increasing supply from completed construction developments mostly in the Gaborone Central Business District (CBD).

The recent Monetary Policy Report (MPR) states that the completion of buildings such as the Botswana Unified Revenue Services (BURS) building at the CBD has led to an increase in the supply of office space, rendering it weak.

However, the report states that despite the COVID-19 movement restrictions and generally weak demand for office space, there was some take-up of office space, although limited, at the CBD by the government which has become a major consumer, as well as by some corporates.

Given the ongoing construction projects in the area and with others in the pipeline, the supply of office space is expected to increase further.

This is expected to exert downward pressure on rentals, especially in decentralized office locations.

Further, the outbreak of the pandemic has resulted in most companies allowing their employees to work from home, it is believed this could negatively affect the demand for office space.

Advertisement. Scroll to continue reading.

While the office space is said to be weak, demand for the retail space is considered fair across all market segments, similar to the previous quarter.

The supply is expected to increase on completion of the ongoing construction of a major shopping centre in the CBD, while another one is proposed for Mogoditshane.

“In addition, other centres with good demand for retail space are Jwaneng, Lobatse, Selibe Phikwe, Maun, Francistown, Mahalapye, and Letlhakane,” says the MPR.

It is said this is because most of these locations have a few retail schemes at the planning and/or construction stage and are to be anchored by reputable supermarkets.

When it comes to industrial property, the supply of unoccupied big warehouse space is reported to have decreased, while the demand has improved.

Meanwhile, the availability of prime location industrial space is expected to decrease going forward, given that most of the centrally located industrial land is almost fully developed and occupied.

In addition, the residential rental is said to have weakened in the fourth quarter of 2020, compared to the third quarter of 2020, due to weaker demand for both the upper and middle-end properties.

Advertisement. Scroll to continue reading.

However, it is stated that the lower-end properties enjoyed a good rental market in terms of both demand and supply, despite the COVID-19 lockdowns in the second and third quarters of 2020.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Letsholathebe memorial hospital’s superintendent, Dr Lebogang Mokotedi has withdrawn a domestic violence case against her “ex-boyfriend” out of forgiveness. Appearing before Maun magistrate court...


Botswana Unified Revenue Service (BURS) is reportedly investigating Chinese nationals for undervaluing goods brought into the country. With suspicions that some traders do not...


YOUNG MAN ACCOMMODATES LOVERS, RAPES AND ROBS THEM A couple’s romantic night at friend’s house in Tatisiding village ended in trauma as the friend...


In yet another suicide to rock the tourist town of Maun a 31-year-old man of Riverside ward was last weekend found hanging from the...


The embattled Botswana Patriotic Front (BPF) President Biggie Butale has rubbished swirling rumours that he has accepted P500 000 payment from BDP to destroy...


Two habitual thieves who broke into a house and stole a stove will be dining in on prison food for the next few years....


The Northwest District Council Chairperson, Kebareeditse Ntsogotho, has expressed concern over the rise of Covid-19 cases in the district. Speaking at the Northwest Council...


One of Botswana’s political heavy weights Jacob Nkate is being courted to represent the ruling Botswana Democratic Party (BDP) in Maun West following the...


All over the world, June 21 is celebrated as ‘World Music Day’. It is also known as ‘Fete de la Musique’ in French and...


*Mayor condemns risky wayward behavior


Bringing a sparkle to car lights in F/Town With jobs scarce and unemployment depressingly high, locals are increasingly forced to rely on their own...


*Francistown Rotary Club donates blankets to MaJaNa’s needy About 30km from Jamataka in the Shashe West Constituency lies a settlement called Lekoba. Accessed through...


As Father’s Day approaches, Voice Woman pays tribute to a man who devoted his entire life to humanity; spiritual father to many, prophet and...


The long road to overcoming mental illness She was only 12 years of age when, against her will, she lost her virginity to a...


A Mandunyane family’s worst fears were cruelly confirmed last Tuesday when their missing son’s body was found floating in Shashe Dam. According to reports,...


– He is convicted of raping grandchild A 70-year-old pensioner convicted of four counts of raping his grandchild is likely to be sentenced to...


Copyright © TheVoiceBW. (Since1993) made with ❤️ in Botswana.