CITIC Construction delivers part of a real estate project in July in Luanda, Angola

2 June 2017

CITIC Construction, a subsidiary of Chinese group CITIC, is in the process of delivering half of the 8,000 homes planned for the “Zango 8000 Red” housing project in the municipality of Viana, outside Luanda, in July, Angolan news agency Angop reported.

The project has a budget of US$1.200 billion, occupying an area of 416 hectares, where the total of 8,000 houses will be built.

The built up area currently occupies about 100 hectares, and the project includes buildings of up to three floors and houses with two, three or four bedrooms.

This information was disclosed during a visit promoted by the Angola-China Chamber of Commerce (CAC) to projects developed by Chinese companies, namely “Futungo de Belas,” “Cidade do Kilamba” and “Zango 8000 Red,” all carried out by CITIC Construction.

The Futungo de Belas Phase 1 project, launched in June 2011 and estimated to cost US$168 million, focused on renewal of the area through construction of basic infrastructure

The city of Kilamba, also built from scratch by CITIC Construction and handed over to the Angolan government in 2012, cost the state US$3.5 billion.

Projects were also built by H&S-China Huashi Group, namely the integrated infrastructure of the Lar do Patriota estate in a total area of 600 hectares with an estimated population of 120,000 people.

In the Nova Vida Urbanization phase 2, H&S-China Huashi Group has built infrastructure and three- and four-bedroom homes. (macauhub)