Rents on commercial properties in Luanda, Angola, may reach US$130 per square metre

25 March 2014

Rental prices on commercial properties in Luanda currently cost between US$60 and US$130 per square metre, according to a study published recently by the Abacus consultancy in partnership with Jones Lang LaSalle.

Cited by Angolan newspaper Expansão, the study said that seven more investments had been identified in shopping centres, as well as three that are already operating in the Greater Luanda area – Belas Shopping, opened in 2007 in Talatona, with 100 shops, Ginga Shopping, inaugurated in 2012 in Viana, with 70 shops and Atrium Nova Vida, opened in 2012 in Luanda Sul.

Along with the Galerias Sky Center shopping centre, the consultancy noted the following new centres due to open by 2015: Luanda Towers/Vista Club Shopping, in downtown Luanda, with 40 shops, Luanda Shopping, in Alvalade, with 208 shops, six cinema screens and a gym, Shopping Fortaleza, on the coastal road and Shopping do Kinaxixi (under construction).

Abacus noted that many of the projects announced to the market, particularly retail parks, have been “difficult to establish” and added that “for the retail segment it is fundamental to witness a rise in families’ purchasing power, which has been the case.” (macauhub)