Three Malawian companies plan 10,000 homes in one year
By the AFREEQUE newsroom, based on Malawi Voice
FDH Bank, the Malawi Housing Corporation and FDH Properties have signed an agreement to build 10,000 homes in Malawi within a year under “Project 250”. The programme will target high-, middle- and low-income households and is part of the Malawi 2063 national vision, according to the partners.
FDH Bank Plc, the Malawi Housing Corporation (MHC) and FDH Properties Limited plan to build 10,000 homes in Malawi within a year under the “Project 250”. The three partners signed a memorandum of understanding in Lilongwe, Malawi Voice reports. FDH Bank is to provide structured financing for the project, targeting high-, middle- and low-income households, with a focus on affordable housing.
The project is part of the Malawi 2063 national development vision, which makes housing a driver of urbanisation and wealth creation. The Minister of Lands, Housing and Urban Development, Chimwemwe Chipungu, and the MHC director general, Bob Chimkango, signed the agreement.
Malawi’s housing deficit is estimated at more than 1.5 million units, while demand is rising in Lilongwe, Blantyre and Mzuzu. FDH Bank said details on the financing mechanisms and purchasing arrangements would be announced later.
