Councillor Bikoko launches K1.8bn housing project

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: Housing project

Bikoko: Housing project

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.

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QueenB
Guest

Observer you’re the one who is gay. Why are you interested in his love life and stalking him? Mukufuna mumupatsire matenda? He has twin girls to take care of and he will get married when he meets the right woman.Stupid azz iwe eti!!

Observer
Guest

I follow this Bikoko guy and he is always busy with something but is alone. Is he gay that he can’t have a wife

Mbowe Mulambia
Guest

This is campaign akufuna u mayor. How can you lunch your own business dispite that it is a good idea

Naligonkhwiro
Guest

Its a very important move but l urge u to consider constructing houses with storeys.

Koma ?????
Guest

Mthubu goloso…any lessons ‘from the Kanengo Northgate’ flop! This can help you make informed investment decisions. All the best?

Dr Haswel P Bandawe
Guest
In as much as there is need for housing, two things about the proposed project bother me. I get the impression that the land was “acquired” meaning it was “bought” and became free-hold. This is wrong: 1. The land on which the housing estate is to be built should not have been bought out-right (if that is what happened). The land should be leased. This will enable the owners of the land to continue to derive income ( lease psymemts) in perpetuity. Land is the only form of wealth the owners had. No amount of compensation can be enough for… Read more »
Bololo
Guest

What this story needs to say is that there is a project in inception stage and currently trying to identify financiers and land amongst other critical factors that need to be finalised before it can actually reach implementation stage.

Munthu the Citizen
Guest

Man Bikoko, u ‘Mayor’ mukuutha heavy. That’s the way to go.

Chingolopiyo
Guest

Nyasa times, thank you for the inspirational story, but there some more infor that you did not furnish us with like, who is to benefit? Whch are the 5 companies that Bikoko is oweing? etc

choka phiri
Guest

The idea is good. Kamuzu Banda built houses for civil workers since they are very low paid.it was good idea. But UDF abolished tjat. Houses were divided among them one Peter took some chidren of Bingu and friends. If this man is building this complex with 1.8 billion Can u imagine how many hospitals were going to be built with 92billion Bingu stolen?
The 30 billiga plus JBS . Malawi could Come a log way.

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