MHC-Hena Guoji begin housing construction in Lilongwe

Malawi Housing Corporation (MHC), which is in a joint venture with Chinese-owned Hena Guoji Development Company Limited, has started constructing houses in Lilongwe’s Area 49 Sector Five.

The two partner companies, expected to construct 7 500 houses in Lilongwe, Blantyre and Mzuzu, have invested $600 million (K207 billion) in the project, according to a statement by MHC deputy general manager Wanangwa Mbereka.

“We will develop these houses in several phases. Currently, we have started the construction in Area 49, Sector 5. The joint venture has adequate funds to run its business,” he assured.

Last month, Malawi President Joyce Banda laid a foundation stone marking the start of the construction works that government says will help to improve the outlook of the three cities and afford many Malawians an opportunity to buy and own decent houses.

This is against the backdrop of over 80 000 Malawians being on the waiting list to occupy MHC houses largely because the cost of building materials is mostly overpriced, which retards the growth of the housing industry in Malawi, according to President Banda.

“It is a given fact that lack of adequate housing compromises development and eventually leads to the escalation of many social ills that usually arise from homelessness,” he said.

Henan Guoji Industry Group Company Limited is a diversity industry group with the qualification of special class of national housing building construction contract which takes real estate development and overseas investment as its main business.