Rail Park Mall has successfully maintained its position as Botswana’s favourite destination mall for over five years now. It’s fifth anniversary is a landmark achievement driven by the loyalty of its patrons, according Chief Executive Officer of Khumo Properties Outule Bale when giving a review of how the mall has been performing for the past years.
He said the mall is strategically located next to Gaborone Bus Rank and Station. He pointed out that Rail Park Mall continues to be a model attraction to pedestrians and the commuting public who augment the shopping mall’s 800 000-foot traffic per month.
“On average the mall has over the past five years maintained tenant retention ratio of 96 percent although those tenants who left were replaced almost immediately, also due to its position as a link between the main transport hub and the rest of the city on the other side of the railway line; the mall has had to cope with high foot traffic volumes which impacted on services such as public toilets and escalators.” said Bale
The tenant mix, he said, also needed enhancements in order to strengthen the quality of cash flows and value of the mall as an asset. The foot traffic is still very high, which is good for trade but enhancements are being pursued by management to upgrade the escalators as well as the introduction of paid public toilets for the mall to keep up with the volumes. He said the tenant mix has gradually been improved from 2012 with the introduction of new tenants with stronger covenants.
Bale added that as one of the largest three malls in Gaborone, the quality of the tenants at Rail Park Mall compares very well with that of its peers and the design of the building is one of the best in town. The mall has turned what used to be a decrepit piece of land next to the railway line into an area of significant economic activity in Gaborone.It has over the years continued to participate in corporate social responsibility activities in recognising and giving back to needy causes.
These include the Kamogelo Day Care, Monwane Primary School Project, Cancer Association of Botswana (Stiletto Walk) as well as Blood Donation campaigns. He said they have also been hosting comedy shows which have facilitated for the exposure of local artists and comedians.