The Solwezi Property is currently being pursued by Arcades, who are proposing to develop a multi-use building on the site.
Arcades is in the process of securing the lease for the land, after which development of the property will commence. On completion, the GLA of the Solwezi Development is expected to be 3,000m2. As with the Parkway Property, Farmers House will take on the development costs of this property going forward. The Board believes that this property is a strategic investment as there is significant demand in Solwezi for such property, and will extend the Company’s geographical spread outside of Lusaka.