Apex properties plans listing in the BSE
Apex Properties, Botswana’s leading property valuation, investment and management consultancy is considering listing in the local bourse (Botswana Stock exchange) in the next 2 years.
This was revealed to Gazette Business by Apex Chief Executive Officer, Umesh Loona in an interview on Friday. “It is something that we think will happen in the next two-to- three years. We still have to bring a private equity investor before we list, and we list once we have build enough for asset base on the pipeline,” said Loona.
Apex which aims to take into account risks and returns pertaining to investments in competing investment assets, will be joining other domestic listed competitors; Letlole La Rona, New African Properties Holdings, RDC Properties, Turnstar Holdings and Primetime Property Holdings.
Apex property is a relatively new company that has experienced growth over its 10 years of existence; Loona said they were doing well outlining some of their projects like the Bodiba shopping mall in Mogoditshane. The company recently opened a branch in Palapye and is set to open another one in Francistown.
Commenting on the property market, Loona said the market was still doing quite well though the different segments were performing differently. “We have different asset classes, different locations. So certain asset classes are doing well and some are not. For instance, office asset class is currently not doing well as there is an oversupply, but if you have a prime location with quality office assets like CBD it can work for you. However, not everybody is doing good in the CBD, but people with quality assets are still doing good, such as Time Projects,” he said.