Icon Properties positive, outlines upcoming projects

Property management firm Icon Properties plc says the company has aligned itself to benefit from the K4.7 trillion infrastructure needs as outlined in the country’s development agenda.

The firm’s chief executive officer Ellen Nyasulu said this in an interview on Thursday in Blantyre on the sidelines of the firm’s first stakeholder engagement where they shared how the firm has performed in the last four years and plans for the future.

“On a case-by-case basis, we will be looking at a balanced approach in terms of benefits of the country and our investors,” she said, adding that the company is working on existing and other big projects to grow the company.

“We are working on an automated parking management system at Chichiri Shopping Centre and a four-star hotel project in Lilongwe which is going towards the end of its first phase.”

Nyasulu said they have a seven-storey office project in Lilongwe which is still in planning phase and will cost the firm $30 million while the hotel project being implemented in partnership with others will cost $44 million.

One of the Icon Properties plc shareholders Emmanuel Chinunda expressed satisfaction with the performance of the company, but urged directors to be forward-looking  in terms of investments.

He said: “We are impressed to see that the company is posting exceptional results in the few years of its operations. We are, however, concerned with the minimal efforts to increase investment.

“We are shareholders looking for  value of investment to grow. We want proactiveness in looking for available opportunities in the market and investments so that the company can grow further.”

Icon Properties plc was incorporated in Malawi as a private limited company on June 4 2018, but started its activities on November 1 2018.

It listed on the Malawi Stock Exchange on January 21 in 2019.