Nico, Eris in properties Pact | The Times Group

Nico, Eris in properties Pact | The Times Group: "Nico, Eris in properties Pact
Posted By: George Mhangoon: July 14, 2017In: BusinessNo Comments
Conglomerate Nico Holdings Group has sealed a partnership deal with South Africa’s Eris Property Group, which will see a joint capital injection of not less than $50 million into property development and investment in Malawi.

This pact will be handled through a company called Eris Property Malawi Joint Venture and Property Development and Property Management to be established by the two groups in August this year."



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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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