One of the country’s real estate firms, Innobuild Private Limited, on Sunday celebrated six years of doing business in the country.
Innobuild Managing Director Billy Chiotha said the firm has registered significant growth over the years.
Chiotha said, over the years, Innobuild has opened seven branches, recruiting close to 100 people across Malawi.
He observed that the firm has also established strong partnerships with institutions such as commercial banks.
“We have achieved a lot. Six years ago, it was only Innobuild Private Limited but, as we speak, four more sister companies in areas of finance, lending, finance technology, education and general trading have emerged from the success of Innobuild Private Limited.
“Greatest of all is that we have now managed to build our own head offices, which is a sign of a well-established business,” Chiotha said.
Looking into the future, Chiotha said the firm has a vision of graduating from SME to a full corporate entity.
He said Innobuild, which intends to expand to 10 more districts in next three years, is currently working on a product that will help Malawians build their homes with very affordable payment arrangements.
Chiotha, however, bemoaned the uncertainity in Malawi’s land laws as one of the challenges that have affected the firm’s ability to make stable investment decisions.
On Malawi’s land shortages, Chiotha said Innobuild understands that most land was already occupied by non indigenous Malawians, especially in prime areas.
“Innobuild Private Limited has embarked on deliberate policy to reach to individuals with business proposals that will ensure that we redistribute to local Malawians at affordable prices and corruption free payments.
“This way, more Malawians will have an opportunity to own land in prime areas but at affordable prices,” Chiotha said.