PrimeTime Property Holdings Limited (PRIMET.bw) 2022 Annual Report

PrimeTime Property Holdings Limited (PRIMET.bw) listed on the Botswana Stock Exchange under the Property sector has released it’s 2022 annual report.

PrimeTime Property Holdings Limited, operating in a difficult environment, has managed to maintain its property portfolio’s resilience, dominance, and defensiveness. The company has experienced a return to normality since COVID-19 restrictions were lifted, enabling it to remove tenant rental concessions and achieve excellent occupancy levels. The board is aware of the company’s high debt levels compared to peers, and has taken measures to lower the LTV from 57% to 53% and aims to reduce it further to 45% to 50% in the short to medium-term. The board was reconstituted to strengthen governance and compliance framework and bring new skills on board. PrimeTime’s approach to corporate governance and leadership supports its value creation mandate, and the company is committed to stabilizing LTV, retaining quality tenants, maximizing occupancy rates, reducing vacancies, and exploring new opportunities to deliver value for unitholders and stakeholders. The company also has a drive to integrate sustainability considerations into its strategy and operations, including the installation of a solar PV project at its Sebele Centre property to transition to clean energy and lower occupancy costs.

For more information about PrimeTime Property Holdings Limited (PRIMET.bw) reports, abridged reports, interim earnings results and earnings presentations visit the PrimeTime Property Holdings Limited (PRIMET.bw) company page on AfricanFinancials.

PrimeTime Property Holdings Limited 2022 annual report

Company Profile

Prime Time Property Holdings is a variable rate loan stock company with interests in property investment, property development and property management. The company has invested in a diversified portfolio of office, retail and industrial properties in the major towns and cities of Botswana, and recently acquired two properties in Zambia on a sale and leaseback basis with G4S Zambia. Prime Time Property Holdings Limited acquires properties owned by vendors through acquisition agreements which it then offers to investors through the sale of Linked Units. Its property portfolio in Botswana is made up of 16 fund properties located in Gaborone, Ramotswa, Francistown, Ghanzi, Lobatse and Serowe. Commercial properties in its Botswana portfolio include Prime Plaza, Letshego Place and the South African High Commission.