“There is already evidence of declining base rentals and hardening investment yields due to an oversupply of office space and shopping centres around the city,” the statement added.
Turnstar Holdings which also has business interest in Tanzania said its core business is to invest in real estate property and generate rental income.
The company also said it will also embark imminent expansion projects especially Game City in Botswana and Mlimani City properties in Tanzania.
“Game City will be expanded to include additional retail space including a fashion avenue, restaurant area including a food court, entertainment area and a parkade. Mlimani City will be expanded to include additional retail and commercial space including basement parking, additions to the Conference Centre and a Botanical Garden,” said the company’s report.
