Angola’s Finance Ministry pays US$115 million for building in Luanda

24 September 2014

The Angolan Finance Ministry will pay IMOB Angola US$115 million for an office building in Luanda to set up various services, in a dal that has already been approved by a presidential order.

The contract is to purchase the “IMOB Business Tower” building with an area of 16,700 square metres in downtown Luanda, which along with the Ministry of Finance, will also be home to the Capital Markets Commission and institutions of the Securities and Derivatives Market.

In the order authorising the deal, dated 18 September, the Angolan President outlined the need to create “better working conditions” for state bodies, “in order to increase the effectiveness and efficiency of the activity of government. ”

The Imob group is an Angolan company based in Luanda, which operates in the sale and leasing of property of its own and owned by third parties. It operates in Angola, Brazil, the United States and Portugal, where it began the process of moving into the European market in 2012. (macauhub/AO)