Social and Affordable Housing | Malawi

The project is for the construction of 2,518 housing units in the districts of Mzuzu, Lilongwe, Liwonde, Zomba, and Blantyre. This is the first of a series of projects totalling $2bn, with land contributed for all the ongoing developments by the Malawi Housing Corporation (MHC). The housing units comprise of three-storey apartment buildings and one to three-bedroom individual units that are designed to meet the demands of the Malawi climate and occupier preferences. All agreements are in place. The final development plan which includes the planning and design of layout schematics, the planning and design and construction of internal and external infrastructure services, including water, sewerage, electricity, streets and storm water drainage systems for the initial 2,518 residential housing units and the plan, design and construction of the units, are complete. Malawi is awash with untapped economic opportunities waiting to be explored. The country has shown an upward trend in economic growth since 2007 and has a stable and democratic political climate. Since gaining independence in 1964, Malawi has been largely free of any political violence. The project has been contractually agreed upon by the required authorities, has an extensive feasibility study and has its professionals already in place to oversee its success. The proposers have so far invested $8.4m but delays caused by Covid leaves the company short on liquidity. The project is fully permitted with the exception of the environmental permits. These have not yet been issued as the client has been left very low on liquidity after the Covid pandemic. They ask for the necessary $45,000 to cover all the sites to be included in the total financing. These lands are zoned for residential development; therefore, the process is just a formality and the conditions of approval do not imply any risks that cannot be dealt with.