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.