LUANDA, Angola, Dec. 10, 2013 /CNW/ - Project will change Luanda's
seafront into a unique, urban and social challenging project, combining
modernism, urbanism and quality of life
The international presentation of Luanda's Bay project took place during
the 1st Luanda Bay Business Forum, in the city capital of Angola.
(Photo: http://photos.prnewswire.com/prnh/20131210/658585 )
"Sociedade Baia de Luanda" redeveloped the whole Luanda's Bay seafront
area and is now working on the real estate project that will occupy
three different plots, in a total area of 39 hectares that will change
the face of Luanda, combining modernism, urbanism and quality of life.
The project involves a total investment in construction of around 6,300
million dollars, through 20 years. This investment contemplates the
general improvement of the area and the development of a real estate
project comprising 78 buildings, in a total construction area of 1.7
million square metres, with car parks and service areas.
These three plots of land reclaimed from the sea will include spaces for
housing, offices, services and shops that will make Luanda more modern,
functional and cosmopolitan.
To publicise how this project is progressing, Sociedade Baia de Luanda organized the first Business Forum in Luanda, evolving the investors
already committed, as well as the main players in the national
community of investors. International investment companies and funds,
banks, real estate companies, construction companies, hotel chains,
engineering and architecture firms also took part so that they could
discover the advantages of investing in this project which promises
conditions of return on a par with other fast developing parts of the
world, namely in Asia.
This project stems from a private partnership between the national
corporate sector and the Angolan State, in which the private companies,
namely Sonangol, Banco Atlântico, GENI, Millennium BCP and Finicapital,
took on all of the economic risk of the initiative, meaning that the
Government of the Republic of Angola did not have to resort to public
In exchange for the investment made in the redevelopment, the Angolan
State ceded the surface and construction rights on the land reclaimed
from the sea, together with other concessions as the new car parks on
the redeveloped seafront.
The project has already won awards in Angola, in South Africa and in
Portugal. And in October of 2013 it was distinguished in the United
States of America by the International Waterfront Association, a
non-profit institution which awards prizes to the best waterfront
redevelopment projects in the world. Luanda Bay won the award for the
best environmental redevelopment and public space project from among 40
projects entered from around the world.
SOURCE: Sociedade Baia de Luanda
For further information:
Operational - Mauro Martins, email@example.com, +244-923-639-966
Editorial - José Barata, firstname.lastname@example.org, +351-962-013-726