Eris Properties Malawi, a property development and services company, has advised Malawians — both at home and abroad — to see real estate as a long-term investment that can create sustainable income and protect wealth over time.
The company’s Chief Executive Officer, Mr. Washington Chimuzu, made the call on Friday in Blantyre during a business breakfast meeting hosted jointly with Icon Properties Plc. Both companies are subsidiaries of Nico Holdings Plc, which is listed on the Malawi Stock Exchange.
Speaking to business leaders, property owners and potential investors, Chimuzu explained that the event was designed to bridge the knowledge gap about the companies’ work and the many opportunities in Malawi’s growing real estate sector.
“We wanted to showcase what we do and how we can help developers, businesses and other players make the most of their property investments,” he said.
He revealed that Icon Properties Plc currently enjoys an occupancy rate of more than 95 percent, which he described as a sign of strong market demand. However, he admitted that the real estate sector is still influenced by economic cycles that can reduce demand. To tackle this, Chimuzu said the two companies have created strategies to keep occupancy high by offering flexible spaces tailored to clients’ needs and market conditions.
He also encouraged village savings and loan groups to consider using their collective funds for property investment instead of only short-term lending.
“Perhaps those groups need to consider investing in housing, even if it means buying land in the first year and developing it gradually. It is a way of holding value and generating revenue over time,” Chimuzu said.
During the interactive session, some participants raised concerns over the lack of structured residential developments in Malawi’s cities, despite the country having vast available land.
Former Mayor of Blantyre City, Mr. Noel Chalamanda, who attended the event, said there is an urgent need for private sector players to take the lead in large-scale housing development. He pointed out that several residential areas in Blantyre — such as Nkolokosa, Chinyonga, and Kanjeza — as well as Area 18 and Area 15 in Lilongwe, were built decades ago, and no similar large-scale projects have been implemented in recent years.
“It is high time the private sector stepped up instead of relying solely on the government,” Chalamanda said.
Another speaker, private lawyer and immediate past president of the Malawi Law Society, Mr. Patrick Mpaka, praised Eris Properties for creating a platform to discuss investment opportunities in the real estate sector. He urged that the conversation should include professional associations such as architects, engineers, and surveyors to ensure high standards in new developments.
“For the country to develop, the private sector must take the lead,” Mpaka stressed. He also encouraged closer cooperation between private companies and the government to speed up national development.
One of the participants, Mr. Noel Mwenifumbo, described the event as an “eye-opener” and said he had gained new ideas on how to invest his income wisely.
“There are things that have been talked about here that not only affect the nation at large, but also us as working-class individuals. This has expanded my knowledge on how I can invest my hard-earned money,” Mwenifumbo said.
Eris Properties entered the Malawi market about eight years ago and has since been involved in several commercial and residential projects. Icon Properties Plc, on the other hand, listed on the 16-counter Malawi Stock Exchange in 2019 and has built a reputation for managing high-value property assets.
Industry observers say the real estate sector in Malawi still has huge untapped potential, especially in affordable housing, modern office spaces, and retail facilities. With rapid urbanisation and a growing middle class, experts believe private sector-led initiatives like those of Eris Properties and Icon Properties could play a central role in shaping the country’s property landscape for decades to come.
