Government through Minister of Lands, Housing and Urban Development, Vuwa Kaunda, has warned that it will soon begin repossessing land allocated to some investors who have failed to develop their plots.
Kaunda said this when he inspected construction works for the Grand Business Park in Lilongwe by a Chinese company called China Lilongwe Grand Holding Corporation Limited.
The Grand Business Park is being built on 20 hectares of land just after the Mchinji roundabout along the bypass road.
It will comprise shopping malls, high class office buildings, shops, villas and supporting facilities such as a five-star hotel and conference centre.
According to Kaunda, the project is one of the outcomes of the first ever Malawi Investment Forum initiated by President Peter Mutharika in 2015 and it is the first of its kind to be launched in Africa by China Lilongwe Grand Holding Corporation Limited.
“I am delighted to note the rapid pace and steady progress your company is making a few months down the line after the land was allocated.
“The level of investment is massive and it is in keeping with the vision of President Mutharika of developing and transforming Malawi into a middle income country within a short space of time,” Kaunda told officials of the company.
The minister then applauded the company for developing the land and encouraged other investors to emulate the good example that has been set by your company.
“I know that there are other investors out there who were allocated land but many years down the line nothing tangible has been done to develop the land.
“My message to the investors who acquire land for speculative purposes is simple. I will not hesitate to invoke section 25 of the Land Act which gives me the power of re-entry on any land whenever there is breach of contract which includes non-development of the allocated plot,” he said.
Kaunda then assured China Lilongwe Grand Holding Corporation Limited that government will protect the company’s investment on the land and provide tenure security and security of property rights on the investment.
A tour of the construction site established that most of the structures are at roof-level and designed in such a way that people dealing in commercial activities will find basically everything under one roof.
Once completed, the Grand Business Park is expected to change the face of the Capital Lilongwe and provide a unique shopping and hospitality experience to the residents of the city.
According to Assistant to General Manager of the Chinese company Sherry Wang, the first phase of the project which include a Casino, one office complex, two villas and access roads, will be completed by the end of this year.