Portuguese company builds Angola’s first retail park

6 February 2012

Lisbon, Portugal, 6 Feb – Portuguese real estate company Casais Imobiliária is building Angola’s first retail park in the city of Lobito, in Benguela province. Investment in the project total 17 million euros Portuguese weekly newspaper Sol reported.

Just a few months away from finishing the work, Casais Imobiliária has already sold 50 percent of the retail space available. 40 percent of the available retail space is owned by Kero, an arm of Angolan company Zahara Comércio, which is repairing its national coverage and wants to expand its hypermarket, supermarket and convenience store network.

Lobito Retail Park will be made up of 22 units for retail, warehouses, services and restaurants and the project recently underwent some alterations to the size of its units in order to be able to include some operators, including the Kero hypermarket.

Carlos Morgado, the commercial manager of Casais Imobiliária, told the newspaper that the company intended to continue investing in the Angolan real estate market. (macauhub)