Bifm, the local asset management company, said on Friday the construction of its Airport Junction Shopping Centre north of Gaborone is on schedule for opening by the first quarter of 2012.
Already, a handover for the two top brands, which are expected to commence trading in less than 2 months, has been done.
Marketing and Communications Manager at Bifm, Tebogo Hirschfeldt, stated that construction started at the end of September 2010 and the first handover to Builders Warehouse was done on 07 June 2011.
“Builders Warehouse has almost completed its shop fittings and is expected to start receiving stock by 22 June 2011,” Hirschfeldt said, adding that Kentucky Fried Chicken (KFC) will be taking occupation of its area on 24 June 2011.
Builders Warehouse, which is part of the Massmart Holdings, is a major supplier of construction and home improvement materials. KFC, on the other hand, is a well known fast food outlet.
“Both Builders Warehouse and KFC are, therefore, expected to start trading by the end of August 2011,” she added.
Bifm said progress on other areas of the shopping centre ‘is also pleasing’, with structures for the Spar and Edgars shops having reached an advanced stage.
In a statement, Bifm Chief Executive Officer, Tiny Kgatlwane, said in terms of employment, the Airport Junction Centre has created around 1000 jobs.
“The Centre will also improve the landscape of the Block 10 area as well as enhance property values in the area,” Kgatlwane said.
The centre, with a lettable area of around 36000 square metres, will house top of the household namesÔÇöthe majority of them having signed leases up to 10 years.
The project, which is to cost P 460 million, will be funded 50/50 by Bifm and Eris Property Group, a multi-billion property development company from South Africa.
Bifm is the asset management division of Botswana Insurance Holdings Limited (BIHL), which is listed on the local bourse.