Monrovia, Liberia – To increase Liberia’s tourism industry, the government of Liberia through the Ministry of Information, Cultural Affairs and Tourism has signed a non-bidding Memorandum of Understanding with a multimillion-dollar real estate developer in the People’s Republic of China for the building of hotels, housing estates and amusement parks.
The improvement of tourism in Liberia, a sector of top importance in Liberia’s national development plan being implemented since January 2024, depends much on accommodation facilities – hotels and residences.
Signed at the China-Liberia Trade Forum held in Shenzhen City, the MOU Mr. Zheng Xudong signed for Shanghai Black Rock Lake Enterprise Development Co., Ltd., China; Jerolinmek Matthew Piah, Liberia’s Minister of Information, Cultural Affairs and Tourism, signed on behalf of the Government of Liberia.
Having a wealth of knowledge in real estate development, project management, financing, and sustainable building, Shanghai Black Rock Lake Enterprise Development Co., Ltd. (China) intends to create luxury homes, high-end shopping centers, and serviced apartments in Monrovia and environs.
The MOU claims that the company, “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 amusement parks.”
With a $20 million overall investment, the project is estimated to generate over 200 jobs. The company is dedicated to create such projects in the Monrovia region, thus improving the appearance of the city, boosting local employment, and so encouraging economic development. The MOU signing reflects China’s assurance for investment in Liberia that will boost and quicken economic development.
