Press Properties Limited (Division of Press Management Services)
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Established in 1969, the division has a property portfolio comprising residential properties (situated mostly and until now in the Namiwawa “Press Village”, an exclusive low density residential area in Blantyre), commercial and industrial properties for letting. Other activities include property development, property management, property valuation, property sales and maintenance services.

CHAPIMA HEIGHTS
Press Properties is currently implementing a major property development project on a 120ha site at Chapima Heights, located about 6 km from the centre of the City of Blantyre. The terrain of the area, set between Michiru and Ndirande mountains and characterised by hills and valleys at an altitude of 900 - 1000m above sea level, offers outstanding scenic beauty.

The project creates and offers for sale to the public about 550 serviced freehold high, medium and low density plots as well as commercial plots. Provision has also been made for a recreation area and a school. In addition, Press Properties is to construct about 260 three bedroom medium density houses for sale.

Construction of approximately 12km of access roads commenced in July 2006 and will be completed by July 2007. Work on the provision of water and electricity supply started in January 2007. Construction of the first 30 medium density houses started in October 2006 and will be complete by May 2007.

Chapima Heights project offers an excellent opportunity to individual and corporate investors and the company is now taking bookings for houses and plots.

Annual Report - 2004
The Division achieved budget results for the period under review. The closer of the Lilongwe Maintenance Unit during the year and the sales of investment properties over the years have reduced the Divisions revenue base.

The Division is currently evaluating various methods of developing the Chapima Heights land which it acquired last year. When implemented the development will help diversify the Divisions revenue base.

Annual Report - 2005
The Divisions results were above budget in spite of a narrow revenue base resulting from sales of investment properties over the years without corresponding additions to maintain the income stream.

Above budget rental income, high occupancy rates, income from valuations and property management and prudent management of working capital contributed tot he achievements of good results. The division is evaluating projects that have potential to give its property portfolio the critical mass required for sustained earnings growth.



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