Society-MoU-Real Estates

GoL Signs MoU With Chinese Firm To Construct Real Estates In Liberia

The Government of Liberia through the Ministry of Information, Cultural Affairs and Tourism (MICAT) has signed a non-binding Memorandum of Understanding with a multimillion-dollar real estate developer in the People’s Republic of China for the construction of hotels, housing estates and amusement parks in Liberia to boost the country’s tourism sector.

According to a MICAT release, accommodation facilities - hotels and housing – play important roles in the enhancement of tourism in Liberia, a sector that is of priority in Liberia’s national development plan being rolled out since January 2024.

The release indicated that the MOU was signed at the China-Liberia Trade Forum organized in Shenzhen City. Liberia’s Minister of Information, Cultural Affairs and Tourism, Jerolinmek Matthew Piah, signed on behalf of the Government of Liberia while Mr. Zheng Xudong signed for Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China) signed for the firm.

The release said the firm, Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China), with extensive experience in real estate development, project management, financing, and sustainable construction, plans to develop real estate projects such as serviced apartments, high-end shopping centers, and luxury residences in Monrovia and its surrounding areas.

According to the MOU, the firm “plans to develop an international community in the southern coastal area of Monrovia, covering approximately 60 acres, which will include hotels, apartments, residences, and entertainment areas such as amusement parks.

It said the project is expected to create over 200 jobs, with a total investment of approximately $20 million”.

The signing of the MOU is indicative of China’s confidence for investment in Liberia that will enhance and accelerate economic growth, the release noted.