Escom group inaugurates biggest building in Luanda, Angola

2 September 2009

Luanda, Angola, 2 Sept – The highest building in the Angolan capital, with 24 floors and 102 metres high, which cost US$135 million, will be inaugurated by Escom, of the Espírito Santo group, on 22 September, the company’s chairman said Wednesday.

The building, construction of which began in 2004, was built by Portuguese construction company Teixeira Duarte, has an area of 50,000 square metres, split into offices, with 16,000 square metres, housing and retail areas. It also has six underground floors for parking.

Escom, which has a strong focus on real estate in the Angolan market, has projects underway in the provinces of Zaire, Benguela and Luanda accounting for 1.6 million square metres of construction and investment of US$3 billion.

Escom’s building is located in one of the best areas of Luanda, between Largo do Kinaxixi and Bairro do Miramar, where Angola’s main embassies are located and where the President of Angola has his private residence.

With around 2,000 workers, the group is currently one of the biggest foreign private investors in Angola and also operates in South Africa and Mozambique.

Escom, founded in 1993, started its business in the trading sector, and then focused on the diversification of investments with the aim of continuing the historical connection the Espírito Santo Group had in Africa.

The group’s activities include the areas of mining, real estate, aviation, public works, fishing and trading.

Escom is part of the Espírito Santo group (GES), the origins of which date back to 1869. It is part of ES Resources, a sub-holding which controls the assets of the group in non-financial areas. (macauhub)