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Time Projects to Buy Barloworld Equipment

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TLOTLO KEBINAKGABO

Property development firm, Time Projects Botswana, is currently in plans to add to their list of properties by purchasing property from Barloworld Equipment Botswana, this publication can reveal.

The Competition and Consumer Authority (CAA) received a merger notification for a purchase of immovable property, Lot 79961 (made up of Lots 75727, 75728, 75729 and 75730) in Gaborone by Time Projects Botswana (Pty) Ltd from Barloworld Equipment Botswana (Pty) Ltd.

Barloworld Equipment Botswana is a private company incorporated in accordance with the laws of Botswana.It is entirely controlled by Barloworld Equipment UK Limited. Barloworld Equipment UK Limited directly or indirectly controls the following companies in Botswana: Barloworld Motor, Avis and Barloworld Equipment. Barloworld Equipment is the leading supplier of heavy earth moving equipment to the mining and construction industry in Botswana.

The acquirer, on the other hand, Time Projects, was established in 1986 and undertakes projects ranging from low cost housing development in Botswana and Zambia and executive residential complexes to multi-million Pula commercial office blocks, shopping centres and industrial developments. Some of the properties that it directly or indirectly controls in Botswana include Dimosse Investment (Pty) Ltd which owns a piece of residential land in Gaborone Block 5 Lot 75068, Adonis (Pty) Ltd through a dormant company which holds title to Plot 74538 Prime Plaza in Gaborone and Merle Investment (Pty) Ltd which owns investment property Plot 134, Independence Avenue, Gaborone.

This is a company in the business of developing property to sell, development and project management, property and asset management, as well as property investment. It earlier this year entered into a development agreement with Prime Time,which is subject to conditions in terms of which Time Projects will develop a retail shopping centre in Lobatse valued at P116 million.

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