Brazil’s Odebrecht invests in Angolan real estate sector

9 July 2007

Luanda, Angola, 9 July – Brazil’s Odebrect Empreeendimentos Imobiliários, a subsidiary of the Odebrecht construction group, has a number of real estate projects in its portfolio for the center of the Angolan capital of Luanda, valued at US$125 million, according to Angolan newspaper, Jornal de Angola.

Amongst the several projects, Odebrecht will launch the Arte Yeto Residencial, at an estimated investment of US$60 million.

The residential project, which is due to be launched in August, is expected to take 24 months to build and will include 72 two-, three- and four-bedroom apartments, priced at between US$450,000 and US$1.5 million.

The Vivendas Sao Paulo de Loanda project is also part of Odebrecht’s portfolio, and is made up of 24 housing lots to be built over 24 months, representing an investment of US$40 million, with a pre-launch price of US$1.7 million for each unit.

Lastly, at Moradia do Reis, a project which will cost US$25 million, Odebrecht plans to build 64 apartments, 95 percent of which have already been sold. (macauhub)