The city of Blantyre is set to undergo a significant transformation with the construction of a modern hotel and convention center, valued at K43 billion.
The construction of the Lifestyle at Cresta Hotel Complex, spearheaded by the Public Service Pension Trust Fund (PSPTF) in partnership with Old Mutual Investment Group, was launched on Thursday at Cristiwick, along the Masauko Chipembere Highway in the commercial city.
Speaking at the groundbreaking ceremony, James Kumwenda, chairperson of the PSPTF board of trustees, said the state-of-the-art hotel and convention center marks a significant investment in the country’s hospitality industry, contributing to Malawi’s economic development.
“For PSPTF, the decision to invest in the hospitality sector is a strategic one. The tourism and hospitality industry has long been recognized as a key driver of economic growth, with the potential to create jobs, stimulate local businesses, and attract international visitors.
“By investing in this hotel, the PSPTF is not only securing a steady stream of income for our members but is also playing a vital role in supporting the Government in achieving the aspiration of the MW2063. MW2063, Pillar 3 (Urbanisation); specifically recognises Tourism Development,” said Kumwenda.
Old Mutual Investment Group Director Alfred Majamanda said the group, as property and fund manager, ventured into the three-year project to increase the value of the Public Service Pension Trust Fund.
“This project aims to increase the fund’s value, enabling pensioners to benefit from a significant sum when they withdraw their funds,” Majamanda said. “Additionally, this project contributes to infrastructure development, aligning with Malawi 2063’s urbanization goals.”
The Lifestyle at Cresta Hotel Complex will feature a luxurious 107-room hotel with world-class amenities, a state-of-the-art 300-seat convention center equipped to host international conferences and events, and a vibrant shopping complex featuring local and international brands.
This integrated hub is poised to become an iconic landmark in Blantyre, showcasing Malawi’s enhanced hospitality industry and attracting business travelers, tourists, and locals alike. With its modern facilities and prime location, the complex is expected to elevate the city’s status as a premier destination for business and leisure, contributing to the country’s economic growth and urbanization goals.
