ICON Properties Reaffirms Commitment to Sustained Market Growth

Malawi’s leading real estate investment company, ICON Properties Plc, a member of the NICO Group, has reaffirmed its commitment to exploring innovative ways of sustaining strong market performance while delivering long-term value to shareholders and other stakeholders.

The commitment was made during a Stakeholder Engagement Meeting held at Ryalls Hotel in Blantyre. The meeting provided a platform for the company to strengthen relationships with stakeholders, share business performance and strategic priorities, gather feedback, and reinforce its commitment to sustainable growth through collaboration and open dialogue.

Speaking during the engagement, ICON Properties Chief Executive Officer, Washington Chimuzu, described the meeting as an important opportunity to update stakeholders on the company’s performance, achievements over the past year, and future investment plans while listening to views that will help shape its strategic direction.

Chimuzu said the company remains on a strong growth trajectory, having posted another year of increased profitability that has translated into higher returns for shareholders.

“We are proud to report that in 2025 we achieved a profit after tax of K32.6 billion, up from K29 billion in 2024,” he said.

“This performance is very encouraging. As an institution, we are determined to continue growing our business so that our shareholders continue to benefit. To achieve this, we are investing in new and modern infrastructure while completing projects already in the pipeline, including the redevelopment of Ryalls Hotel, a modern Grade A office complex in Lilongwe, retail expansion projects, and residential developments in Blantyre.”

Blantyre City Council Mayor Isaac Jomo Osman commended ICON Properties for its continued investment in modern infrastructure, saying the developments are helping transform Blantyre into a smarter city while addressing growing demand for quality office, commercial, and residential space.

“We are impressed with the contribution ICON Properties is making towards the country’s development,” Osman said.

“We live in a modern world where cities need smart and improved infrastructure. Today’s engagement has been fruitful because, besides hearing the company’s plans, we were also given an opportunity to share our views on how they can enhance their operations. We are pleased that they have committed to taking our contributions into account.”

The stakeholder engagement forms part of ICON Properties’ broader strategy to strengthen partnerships, enhance transparency, and ensure its investment decisions remain responsive to stakeholder expectations while sustaining its position as one of Malawi’s top-performing listed property companies.