LETLHAKANE – The property boom in Letlhakane has been linked to the expansion and opening of diamond mines in the sleeping mining town.
The opening and expansion of mines has also seen the prices of residential and commercial plots rising up as entrepreneurs continue to venture into hotel and accommodation establishments.
Maje Properties and Investment LTD, Chief Executive Officer Maje Maje has attributed the property boom to the expansion and opening of diamond mines in Letlhakane.
According to Maje the mining town has attracted investors and people who have identified an opportunity.
He indicated that the expansion of Letlhakane mine tailing project which is expected to produce 800 000 carats per annum for the next 24 years has boosted investors confidence to invest in property.
Maje stated that investors are confident about the extension of lifespan of Letlhakane mine hence investing in property without fear of eventuality of diamonds sale in the market.
He argues that investors only want to invest since the opportunity provide that they invest and make money .
Maje indicated that investors know that everything can happen as it has happened with Tati Copper Nickel mine.
‘Nobody could foresee the closure of the mine when the prices of copper and nickel were doing well. Property owners were making a kill since those working in the mines were renting some of the properties, ‘added Maje.
He explained that after the closure of the mine left properties empty as result of the closure of Tati mine in the second city.
Maje is optimistic that investors are aware of such eventuality and this is part and parcel of running a business.
Meanwhile entrepreneurs in the hospitality and tourism in the dusty mining town in Letlhakane have been argued to explore other tourism opportunities to avoid the possibility of the mining town becoming a ghost town.
Kwee Sands Guest House, General Manager, Masego Keleabile who also run a guest house is adamant that if tourism opportunities are exploited this will give the mining town life after diamonds.
She explained that there is need to exploit other opportunities in the tourism though the mining industry was crucial in the existence of her business.
On the other side of the town, Curve Guest House, Manager Thomamiso Mogaetsho indicated that there is need to venture into mobile safari.
She said that currently her guest house obtained two star grading from Botswana Tourism Organisation which give her business advantage of hosting international tourists.