Liberia Signs Agreement with Chinese Firm for Real Estate Development

The Government of Liberia has signed a Memorandum of Understanding (MOU) with a major Chinese real estate developer to construct hotels, housing estates, and amusement parks in Liberia.

The MOU was signed at the China-Liberia Trade Forum in Shenzhen City by Liberia’s Minister of Information, Cultural Affairs, and Tourism, Jerolinmek Piah and Zheng Xudong, representing Shanghai Black Rock Lake Enterprise Development Co., Ltd.

This agreement aims to boost Liberia’s tourism sector as part of the country’s national development plan, which kicked off in January.

The Chinese firm plans to invest around $20 million in various projects in Monrovia and nearby areas. These projects include the construction of an international community on 60 acres of land along Monrovia’s southern coast. The development will feature hotels, apartments, residences, and entertainment areas such as amusement parks.

The project is also expected to create over 200 jobs, enhance the city’s appearance, and support economic growth by boosting tourism and local employment.

This development comes after the recently concluded Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, attended by leaders and representatives from over 50 African countries.

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