Portuguese group Somague builds shopping centre in Luanda, Angola

12 January 2015

The new shopping centre in Kinaxixi, a square in downtown Luanda, the construction of which is in the hands of Portuguese company Somague, will have 220 stores and seven cinemas, a project with a total cost estimated at US$1.041 billion.

The numbers, now announced, are contained in a contract between the group responsible for the Kinaxixi project and the National Private Investment Agency (ANIP), of 5 January.

At an advanced stage of construction the project has three towers, two of which with 25 floors, and a shopping mall with 220 shops, a supermarket, restaurants, leisure facilities, a pharmacy, and an event venue.

Also according to the information contained in the investment agreement, the opening of the shopping centre in Kinaxixi is scheduled for the third quarter of 2015, while the towers, offices and housing, should be completed in the first half of 2016.

With a total construction area of ​​300,000 square metres, the project will also have seven movie theatres and several bars, and is expected to create 1,200 jobs in the shopping centre itself and another 2,500 indirect jobs.

As part of the contract with ANIP, under the Private Investment Law and also approved this month by presidential order, the project will benefit from a reduction and exemption from various taxes, for the next few years. (macauhub/AO/PT)