Diversified group of companies Madison Holdings has embarked on the construction of a 300 housing complex in Malawi aimed at reducing housing shortages rocking the capital Lilongwe.
The modern housing complex in Malawi, located opposite Central Poultry along M1 road before Kamuzu International Airport (KIA)’ junction is expected to have a four bedroom house, state of the art gym, swimming pool, basketball court, supermarket, filling station and a moving theater among other social amenities.
Madison Holdings’ CEO, Dr. Desmond Bikoko has expressed his excitement after securing the land where the houses will be constructed.
Dr. Bikoko, a councilor for Chigoneka Ward in Lilongwe City secured the land after successful negotiations with the chiefs. Affected families were not left empty handed as they were compensated by the Lilongwe City Council (LCC).
“We are happy to announce to the general public that Madison Holdings has finally secured the land after three years of negotiations with chiefs and LCC. This is a huge step for the much anticipated project which will bring new development to the city.
The complex will have 300 apartments with four bedroom houses which will ease house shortage capital city. Additionally, there will be modern social amenities like state of art of gym, swimming pool, basketball court, supermarket, filling station and a moving theater and restaurant,” said Dr. Bikoko.
Councilor Bikoko said US$30 million will be required for the completion of the complex which is set to commence in 2016. International financiers who have shown interest in the project are expected to help meet the costs.
“We have made proposals about the project to our international financiers, who demanded for details on the location of the project for them to consider the offer. So far with the development, they will definitely deliberate on it. We only have to take care of the paper work with LCC after we successfully compensated chiefs and the families who were using the land for farming.
The project is set bring a major facelift for the city especially with its close proximity to KIA which serves local and international delegates. This will in turn contribute to the country’s economic growth as many will secure jobs and business.
Madison Holdings, established in 2008 has over 200 employees across the nation. It also brags of another successful project, Riverton University in Lilongwe which was opened recently.