By Jimmy Chazama:
The Malawi Housing Corporation (MHC) has estimated the cost of Project 250 at between K20 trillion and K25 trillion to deliver 250,000 houses across the country.
MHC Chief Executive Officer Bob Chimkango said the estimate was based on current costs but could rise depending on the prices of materials and services.
He said the 10-year project would begin with the construction of 10,000 houses in the first phase, starting in December.
“It is not just about building houses, but about showing efficiency and affordability. If a client wants a house in three months or six months, we should deliver within that time and budget. That is what we have already demonstrated,” Chimkango said.
He was speaking in Lilongwe yesterday during the handover of a house in Area 49, which was built at K178 million against a budget of K201 million and completed within 90 days.
“We are not just celebrating a house, but a milestone in efficiency. We have a financier available to offer mortgages to all our clients so that we offer a plot and build for them,” Chimkango added.
MHC Deputy Board Chairperson Pawene Nkhata said the corporation was shifting towards modern houses fitted with tiles, water heaters and proper kitchen units.
“We are satisfied with the way management has executed this project and confident that Project 250 will improve living standards nationwide,” Nkhata said.
MHC said the houses would cater for different income groups, with options ranging from low-cost one-bedroom units to luxury houses.
The corporation, which has a waiting list of more than 100,000 clients, said it was preparing to roll out the project once financing and other preparations were finalised.
Project 250 aims to address Malawi’s growing housing demand in cities and townships, with support from local banks to facilitate access to mortgage financing.