Dubai Investments, a leading investment company listed on the Dubai Financial Market, has announced the signing of a strategic cooperation agreement with the Angolan sovereign wealth fund to develop extensive real estate projects in the Luanda province of Angola.
This agreement, signed in Luanda, embodies a shared vision to enhance investments in modern urban planning and sustainable development within the Angolan capital. The initial phase will particularly focus on the development of Kazanga Island off the coast of Luanda.
The agreement was signed by Khaled Bin Kalban, Vice Chairman and CEO, and Armando Manuel, Chairman of the Angolan Sovereign Fund, along with the Angolan Secretary of State for Urban Planning, Manuel André da Costa Kangi Zizi, who represented the Minister of Public Works and Urban Planning.
Strategic Milestone
Khaled Bin Kalban stated, “This achievement marks a significant strategic milestone for Dubai Investments as it seeks to expand its global presence. The group is entering the Angolan market for the first time with the development of the ‘Dubai Investments Complex in Angola,’ an integrated mixed-use complex inspired by the successes of the ‘Dubai Investments Park’ in the UAE. This agreement with the Angolan Sovereign Fund (FSDEA) facilitates the launch of a second project in Angola, reinforcing Dubai Investments’ ambitions to enhance its footprint in global markets, with a solid track record spanning over 30 years in developing distinguished real estate projects. The group takes pride in its active role in developing integrated and sustainable urban communities in Luanda, reflecting its commitment to supporting urban development efforts in Angola and improving the quality of life there.”
Under this agreement, the Angolan sovereign fund will participate in the investment through a dedicated instrument granting it ownership rights in the land areas involved in the development processes. This investment model allows Dubai Investments to leverage its developmental expertise to transform designated land into modern, sustainable urban complexes, aligning with its vision to create integrated and growth-oriented urban environments and open new opportunities for infrastructure development and tourism activation in Angola.
Development Initiatives
The first phase of collaboration will zero in on developing Kazanga Island off the coast of Luanda, paving the way for launching developmental initiatives in urban, residential, and tourism sectors across Angola.
Armando Manuel, Chairman of the Angolan Sovereign Fund, remarked, “The signing of this agreement reflects the sovereign fund’s commitment to attracting international capital and technical expertise, contributing to high-quality project development in the real estate and tourism sectors in Angola. We firmly believe that the integration of the real estate and tourism sectors strategically contributes to reshaping the urban landscape of the Angolan capital, enhancing its environmental and coastal resources while preserving its cultural character.”
Manuel André da Costa Kangi Zizi, Secretary of State for Urban Planning, representing the Minister of Public Works and Urban Studies, emphasized the importance of the agreement, stating, “The agreement serves as a fundamental pillar in enhancing the economic and urban value of the area, utilizing high-level architectural standards and enhancing the natural landscape of the capital, while attracting real estate investments that meet the quality and diversity needs of Luanda.”