Game City continues to thrive
Turnstar Holdings plans to construct a fast food drive through outlet within the Game City property as the mall continues to attract high demand. The company stated that Game City, which is its flagship retail asset in the entire portfolio had a good occupancy rate of over 97 percent for the longest time.
Turnstar Holdings Managing Director, Gulaam Abdoola said Game City performed well and maintained its flagship status as compared to other properties. “Currently, Game City is dealing with the ever changing regulations aimed at promoting health and safety as well as protecting shoppers and those working in the mall.”
In its 2020 annual report, Abdoola said they will continue to focus on growing their revenue base in Botswana for the near future.
He said their strategy of working with tenants during the pandemic, has ensured that the company has a high rate of tenant retention and has maintained 98percent occupancy. “We have reconfigured the cinemas into retail space and this area has been rented to one large retailer. We are also busy looking at requests from a few stand- alone retail businesses. The construction of a fast food drive through outlet, within the Game City property will commence soon,” he said.
Abdoola said the company is also experiencing high demand at Nzano Centre in Francistown. He said they are looking at options to create more space to accommodate this demand.
For its Tanzania operations, the company’s Mlimane City mall is performing well and has a waiting list for retail space. Abdoola said the conference Centre is now reporting increased activity. However, the company is experiencing a challenge in the letting of the Commercial Office space although there is interest in the sector.
In its year ended January 2021 Turnstar recorded a significant decline in profit after tax from P116.2 million to P81.3 million. Turnstar Group has investments in Botswana, Tanzania and the United Arab Emirates.