ICON Properties Plc excited with the company’s growth performance

The country’s Infrastructure investment experts, ICON Properties Plc has expressed excitement with the company’s impressive progress and improvement in growth performance recorded in 2023 which has shown a great indication of a right direction of Malawi’s infrastructure development.

Chief Executive Officer of the company, Ellen Chapinduka Nyasulu disclosed the development at a Stakeholders Engagement Meeting at Ryalls Hotel in Blantyre, that compared to the previous years it has managed to produce positive outcome in as far as revenue generating is concerned which she described it as a result of the company’s commitment in ensuring that it is working towards its objective and clients wish in building standard and modern structures.

“According to our records, the company in terms of the main parameters it has performed positively, for instance, the rental has grown by 15% compared to 2022 where it made 6%, while the fair value growth has recorded 16% against 14% in 2022 whereas the general outlook of some properties and performance we’ve seen alternative revenue income generated which was due to the introduction of the parking management system,” said Chapinduka Nyasulu.

She however, admitted that despite the positive achievements, the company has been going through challenges such as high rising of interest rate, inflation, devaluation, wars , regional and global issues like pandemics just to mention a few which affects the proper operation.

But Chapinduka Nyasulu further challenged that the company will work hard to keep the good performance going in order to help uplift the Malawi economy by constructing more infrastructures.

One of the representatives of the Stakeholders, Frank Harawa, described the Icon Properties strides as a clear demonstration of the company’s wish to improve the infrastructure development in the country and the existing vibrant relationship with its clients whose feedbacks are always addressed accordingly making it to have a good performance.