Our Projects
Zambia
The Lilayi Housing Development Project – Project Status
The Lilayi Housing Development Project involves the development and funding of approximately 3700 emerging middle class houses at a cost of USD $350 million. Transaction structures and financial arrangements involving parties including OPIC, FMO, Stanbic, USAID and others have been finalized, and construction has commenced. The Lialyi Housing Estate is being constructed on a 260 Ha site located 6 kms from the central business district of Lusaka, the capital of Zambia, will comprise 3,700 housing units. Based on demand forecasts of an additional 25,427 middle-income housing units by 2013, and a shortfall of 50% of these units, demand for the Lilayi Estate looks solid. Market feedback has indicated that there is an increasing demand for larger units and the housing designs have been adapted to cater for this demand. Major sewer and water infrastructure has been built and the first phase of housing is scheduled for completion in Q1, 2009.
Project Participants
- The Overseas Private Investment Corporation – OPIC
- The United States Agency for International Development – USAID
- Nederlandse Financierings Maatschappij voor Ontwikkelingsladen NV (FMO) the international development bank of the Netherlands
- Madison Insurance
More information can be found at www.lilayiestates.com .