Praia, Cape Verde, 29 Nov – Real Estate investment in Cape Verde has focused on tourism and therefore we are going to build an office, store and apartment complex in Praia, said Vasco Oliveira Santos of Comat – Companhia Atlântica, in Praia Tuesday.
Representing an investment of 25 million euros, the project, known as Edificio Santiago, will be launched at the end of March 2008 and is scheduled for conclusion in the third quarter of 2009. It will be built over an area of 21,000 square meters next to the capital city’s coastal road.
“The idea of the project emerged because in Cape Verde the is a potential market for offices and, as well as this, it is a country that is growing, which offers political and exchange rate stability without equal in the whole of Africa,” said the representative of Comat, a British and Portuguese owned company.
The building will be entirely made from metal and glass, with two underground floors for parking made of concrete, as there is a lack of sand for construction in the country.
The metallic structures are due to arrive in the country in a semi-prepared state, Santos said, adding that the glass component would only be needed for internal lighting, as Cape Verde is a very warm and sunny country and it would therefore be counterproductive to use too much glass.
Maria Luisa Neves, the engineer responsible for carrying out the project, also noted that the building would be located in a renewal area that in future would be particularly focused on retail, services and leisure. (macauhub)