Angola’s real estate sector has only very recently begun to attract international investment interest. But with one of the highest rates of urbanisation in Africa the demand for real estate is enormous.
Post-conflict infrastructure, high import costs and the even higher cost of living in the country’s capital, Luanda has shielded Angola’s real estate sector from important international interest. However, times are changing and foreign business is beginning to recognise the extent of unmet demand.
International firms, mostly Brazilian and Portuguese companies, are leading figures in construction and real estate projects. The International Real Estate Company Century 21 recently started business in Angola. Most are focusing on Luanda – home to approximately a third of Angola’s population – but many are moving further afield to Angola’s other cities such as Huambo, Soyo, Lobito and Benguela.
Large-scale projects such as the Luanda Sky Centre are popping up all over the city. New buildings and cranes dominate Luanda’s skyline.
Investment momentum appears to be...