Monrovia, Liberia – The Government of Liberia, through the Ministry of Information, Cultural Affairs and Tourism (MICAT), has signed a Memorandum of Understanding (MOU) with Shanghai Black Rock Lake Enterprise Development Co., Ltd., a multimillion-dollar real estate developer from the People’s Republic of China. The agreement aims to foster the construction of hotels, housing estates, and amusement parks, boosting Liberia’s tourism sector.
The MOU was formalized during the China-Liberia Trade Forum in Shenzhen City, with Liberia’s Minister of Information, Cultural Affairs, and Tourism, Jerolinmek Matthew Piah, representing the Government of Liberia. Mr. Zheng Xudong signed on behalf of the Shanghai Black Rock Lake Enterprise Development Co., Ltd.
This partnership marks a significant step towards Liberia’s national development plan, which has prioritized tourism since January 2024. The construction of modern accommodation facilities, such as hotels and housing estates, is viewed as essential to the sector’s growth. The MOU signals China’s confidence in Liberia as a viable investment destination and its commitment to accelerating economic development in the country.
The Chinese real estate firm, which boasts extensive experience in sustainable construction, project management, and financing, is set to embark on a major real estate initiative in Monrovia and its surrounding areas. The project will cover approximately 60 acres in the southern coastal area of Monrovia and will include serviced apartments, luxury residences, high-end shopping centers, and entertainment hubs such as amusement parks.
With an estimated total investment of $20 million, the development is expected to generate over 200 jobs for Liberians, enhancing local employment and stimulating economic growth. The project will not only enhance the aesthetics of Monrovia but also contribute to the overall infrastructure and tourism potential of the capital city.
Shanghai Black Rock Lake Enterprise Development Co., Ltd. has also expressed interest in executing similar projects in other parts of Monrovia, further contributing to urban development and enhancing Liberia’s appeal as a tourism and business hub.
The signing of this MOU marks another milestone in Liberia’s efforts to attract foreign investment and signals the government’s commitment to modernizing infrastructure and promoting long-term economic growth.
