Recently, I had a conversation with a concerned mechanic.As his team worked on my vehicle, he spoke of his wealthy uncle who only owned small houses in middle-class areas.
“I advised him to invest in an amusement park in Blantyre where children could play, but he laughed it off,” he said.
This could be a great business in the city where family and children entertainment options are lacking.
Here was a person with resources to transform his empire, yet his mindset confined him to low-impact investments.
I envy visionary real estate investor Napoleon Dzombe, who sees potential where others see limitations.
Some rich individuals have no vision, but others have both vision and courage.
The former often play it safe shying away from bold investments with lasting impact. They fear losing money more than they desire growth.
However, Dzombe epitomises the latter group, which leverages their resources to reshape their environment and discover opportunities amid adversity.
To him, real estate transcends mere housing. It is about transformation.
Instead of confining himself to traditional property, he invests in developments that can redefine entire locales as did his hotel and amusement park in Dowa, a district many investors overlook.
Some critics say the value of real estate hinges on location, but Dzombe’s investment proves that a vision can redefine a place.
Decades ago, Dubai in the United Arab Emirates was merely a desert. Yet some visionaries recognised its potential, which was buried in sand dunes.
Today, its world-class infrastructure attracts visitors from around the globe who are drawn by its luxury and innovation.
This would not have materialised had Dubai’s investors feared taking bold steps.
Interestingly, many wealthy Malawians are quick to admire bold investments in other countries.
When they go to Dubai, they pose for photos in front of its marvels of progress, yet they hesitate to invest in their countries.
A wealthy friend refused to spend billions on real estate in Malawi because it takes too long to yield profit. Yet he readily splashes cash overseas on the very developments he finds too risky to replicate at home.
This common mindset focuses on immediate returns over long-term impact.
Bold ideas require careful planning, including risk assessments, feasibility studies and expert guidance.
Numerous professionals can help transform a vision into reality, but those with vision need to take action.
Real estate is not limited to housing. It has the power to shape communities, create economic opportunities and fundamentally alter how people interact with their environment.
It is time to shed the notion that real estate is merely about single-family homes.
Currently, the market is saturated with small plots for individual houses.
But the real estate landscape is evolving.
High-rise buildings can provide practical and modern solutions to housing challenges amid rapid urbanisation and shrinking land availability.
Parliament recently passed a progressive law that gives investors in real estates to go beyond the building practices of the past and address contemporary needs with innovative solutions.
Shopping malls mushrooming in the country were once perceived as an unrealistic idea, but now represent booming centres for activity and economic growth.
Investors have seized the business opportunity and the entire areas around the malls are flourishing.
The same growth potential exists for business and amusement parks, sports complexes and luxury developments.
Real estate is a powerful engine for economic growth. It creates jobs, stimulates local businesses and enhances the quality of life.
Carefully planned projects attract investment, promote tourism and foster commercial activity.
To maximise this potential, banks must develop financing models catering to large-scale projects. Policy makers should offer incentives such as tax breaks or public-private partnerships to encourage transformative investments.
When banks, governments and investors unite in their vision, they can catalyse projects that generate profit while uplifting entire communities.
The success of any nation’s real estate industry mirrors its collective mindset. If we perpetuate small thinking, we will achieve only modest results. However, embracing bold and transformative visions can position Malawi as a destination for both local and foreign investment.
If we dare to dream big and take decisive action, we too can reshape Malawi’s future and create our own Dubai.
