The 2015 Malawi Investment Forum (MIF) which government hosted starts bearing fruits following this week’s launch of the Lilongwe Grand Business Park Project.
The park which will be the first of its kind in the country will be located in Area 46 along the by-pass road in the capital Lilongwe.
Malawi Investment Trade Centre (MITC)’Public Relations Manager, Deliby Chimbalu told this publication that the project comprises 20 hectares of integrated mall and hotel development.
Chimbalu disclosed that the project is being promoted by China Lilongwe Grand Holding Corporation Limited Company which was registered in Malawi in August 2015.
The MITC publicist explains that the business park will comprise a shopping mall, high class office buildings, villas with supporting facilities such as a five star hotel and Conference center.
“We are pleased to inform the public that all the processes regarding implementation of the Lilongwe Grand Business Park project have been finalized and a ground breaking ceremony for the same has been arranged on November, 22 this year. The park is aimed at providing business facilities under one roof.
“The project has been designed in a way that people dealing in commercial activities will find basically everything under one roof. Talk of building materials, decoration materials, furniture, clothing boutiques, cars and auto-parts sales, electrical appliances, banking facilities and on top of that the business park will have wide internet coverage,” explains Chimbalu.
The whole investment is estimated to cost US$100 million; and will be completed within five years, but in three phases. It is also estimated that this investment will directly create 1,500 jobs and 2,000 indirect jobs for the local people here in Malawi.
It is expected that President Peter Mutharika will preside over the groundbreaking ceremony for the project.
Meanwhile, MITC says it is continuing to follow up on other deals that were made in the MIF 2015 and MIF 2016 as preparations for the third Investment Forum in June 2018 are underway.