LILONGWE – FDH Bank Plc, the Malawi Housing Corporation (MHC) and FDH Properties Limited have signed a Memorandum of Understanding to develop 10,000 housing units in one year in a project dubbed “Project 250”.
The tripartite agreement was signed in Lilongwe.
Under the MoU, FDH Bank will provide structured financing for the project, which targets high, middle and low-income earners with what the partners say is a focus on affordable housing.
The project is being positioned as part of the Malawi 2063 national development vision, which identifies housing as a key enabler for urbanisation and wealth creation.
Minister of Lands, Housing and Urban Development Chimwemwe Chipungu and MHC Chief Executive Officer Bob Chimkango signed the MoU for the initiative.
Malawi has a housing deficit estimated at over 1.5 million units, with demand growing rapidly in Lilongwe, Blantyre and Mzuzu.
The partners have not yet disclosed the total cost of Project 250, the specific sites for the first 10,000 units, the price range for the affordable segment, or the timelines for ground-breaking.
FDH Bank said more details on financing models and off-take arrangements will be announced in due course.
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