Portuguese company to build private condominium in Maputo, Mozambique

7 August 2012

Portuguese construction company Lucios is due in September to start building the first phase of Maputo Bay, a private residential condominium of real estate promoter Openspace with a view over Maputo bay, said Tiago Faria, who is responsible for the company’s international projects.

Cited by daily newspaper Oje, Faria said that the project in the Mozambican capital was the beginning of the company’s internationalisation process. Lucios projects turnover in Mozambique of 10 million euros in its first year of business.

Faria also said that, given the crisis facing the construction sector in Portugal, Lucios’ internationalisation was not only a precaution for the future but also a necessity for the company, which has a 70-year history, to continue to grow.

In 2011 Lucios posted turnover of 53 million euros and expects to post a similar result in 2012. (macauhub)