Lilongwe to have new $30m housing project

The boom in the construction
industry in Lilongwe is expected to
take a major boost following plans
by Lilongwe based Madison
Holdings Limited to construct a
300-unit resort style apartment
complex in Nchezi in the outskirts
of Lilongwe along the Lilongwe-
Salima Road.
The construction of the apartment
Complex aims at reducing housing
challenges that exist in the city of
Lilongwe.
According to Madison Holdings
chief executive officer Desmond
Bikoko, the proposed complex will
sit on an approximately 21 acres of
land comprising of one, two and
three bedroom units.
Said Bikoko: “The idea for such a
project was derived from Camel
Renaissance Apartments in
Denver, Colorado, USA. The
project will cost over $30 million
and we are talking to Shelter
Afrique for funding and we are
hopeful by close of this year they
will accept our proposals and early
next year we will be full throttle
constructing.”
He said the units will offer a
variety of floor plans and will
include several amenities to meet
a wide range of tests and needs.
“There is high probability of
increased demand of
accommodation in the city in the
next five to 10 years with
developments taking place along
the Salima Road. The demand of
decent and affordable
accommodation in the city of
Lilongwe presupposes the viable
market of the 300 units Madison
Apartment Complex.The
construction of the units may
mitigate this problem and realise
high turnovers in the anticipated
period since the construction of
the apartment is anticipated to be
completed within two years after
its initial launch,” said Bikoko.
He added that the plans to
construct these types of
apartments have been there for
the past three years and the
process to identify investors is
what delayed the organisation to
publicise the plans.
The Population and Housing
Census of 2008 indicate intercensal
annual growth rate of 4.3 percent
and intercensal population
increase of 51.9 percent of
Lilongwe City between the censual
periods of 1998 and 2008.

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