In a bid to alleviate housing problems for the middle income earners in the capital city Lilongwe Madison Holdings Company (MHC) which is owned by the renowned young business tycoon and councillor, Desmond Bikoko, on Friday, launched an ambitious K1.8 billion (USD30 million) housing project at the colourful event which took place at the just acquired land, near CP Feeds in Lilongwe.
Bikoko said the company will construct three to four bedroom Houses, state of art of gym, Swimming Pool, Basketball Court, Supermarket , Filling Station and a Moving Theatre all in one complex and restaurant.
“The project is estimated to cost about US$30,000,000.00 and we have had a number of interested financiers but we need to have secured the land before they can make any financing commitments,” he said.
“We have interested investors outside Malawi what remained was to secure piece of land for such an exercise to materialize,” said Bikoko.
The project lies on the land of 88 hectares.
Bikoko said he was happy that people who were owners of the land have already been compensated.
Meanwhile, the company has asked Government to fully support the project since it will help Malawians in different ways including employment.
Madison Holding is a group of companies which deals with formal trainings into trainings, car hire, recruitment, security management, IT Services and accessories, tertiary education provision services.
Madison Holdings has also opened Riverton University which is located in Lilongwe.