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Tuesday, June 22, 2010

Old Mutual launches $40m retail centre in Malawi

The development is financed by MPICO.

Construction of a new regional shopping centre in Lilongwe will begin in June this year. This week MPICO, (Malawi Property Investment Company Ltd), the locally listed and largest property development company in Malawi, announced that it is developing a $40 million, 18 000m² shopping centre development in the western suburbs of Lilongwe, the capital of Malawi. The development is financed by MPICO, the National Bank of Malawi and two major international financial institutions.  An experienced South African development team comprising developers, financiers, professional designers, engineers and contractors will be managing the development and construction of the project for MPICO.

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