Mozambican public insurer launches real estate management tender

2 May 2006

Maputo, Mozambique, 02 May – Mozambique’s public insurance company Emose has launched a public tender to choose, by May 23, a partner for managing its real estate portfolio, considered to be one of the largest in Mozambique, on a business level, according to local press reports.

According to the press, the selected company will have a49 percent stake in a private company controlled by Emose, to which will be transferred all real estate assets owned by the state company.

The move is intended to provide Emose with funding to refurbish the properties, most of which were nationalized after the country’s independence from colonial ruler Portugal in 1975.

According to Mozambican daily, Canal de Moçambique, Emose’s real estate assets include 3 properties in Portugal and 90 in Mozambique.

Of these, 29 are based in Maputo, 14 in Beira, two in Tete, two in Chimoio, two in Quelimane, one in Nampula, and the remainder are spread all over the country.

The management company that is to be set up is expected to have powers to buy and sell property, collect and administer funds from rentals, as well as other activities required for maintenance and security. (macauhub)