Newly established property ownership firm, has reported its forecast for 2019 and 2020. With 6 months in operation, the subsidiary of NICO Holdings has property worth K25.689bn in the central region, K23.937bn in the southern region and K409m in the northern region.

2019 is said to have a profit of about K8bn; the number being predicted from completion of restructured properties, while considering a growing annual income among other factors.

2020 is said to have a profit of about K8.2bn, citing that by then, administrative and operating expenses will have stabilised.   

The forecast has been supported by Deloitte Malawi, in an attached letter that stressed their trust in the forecast’s accuracy, citing that the forecast is in line with its accounting policies.

The report also assesses the properties’ risk, including forex inflation and tenant’s delay/difficulty to pay rentals, but the firm also presented means of risk mitigation. With a portfolio boasting of Lilongwe city mall and Chichiri shopping centre,  Icon Properties has just been listed on the Malawi stock exchange and is selling shares at MWK8.75 each.