Angolan developer predicts project portfolio will reach US$130 million

13 November 2013

The growing project portfolio of the Angolan real estate development firm Gestimóvel may be worth nearly US$130 million by 2014, said the company’s executive director, Nuno Gaspar, cited by the weekly Expansão.

Gestimóvel aims to expand activity to the provinces of Uíge, Kwanza Sul and the two Lundas, Gaspar said, adding that the company began activity by building the already completed KN10 building in Luanda, where US$20 million were applied. The same amount was spent on construction of the Lubango Centre in Huíla province in 2011.

The company is currently building the first of four towers in the Zenith Towers project in Talatona, Luanda, a development budgeted at more than US$90 million.

The complex comprises two office towers and two others for multi-family housing and will take four and a half years to build. Construction of the first office tower, with 12 upper floors and lower level parking for 300 vehicles, is already very advanced.

That tower is being built by the Casais contractor and should be finished in November 2014, said the executive director of Gestimóvel, a company founded in Angola in 2004. (macauhub)