UAE real estate company ready to start exploring the Angolan market Yesterday (30.04.2022) Angola took an important step towards opening up the investment intention of one of the leading companies in the real estate sector in the United Arab Emirates (UAE), DAMAC Properties. The two parties signed a Memorandum of Understanding (MOU), which consists of the expression of interest for the start of exploratory activities, in order to find investment opportunities in various areas to be granted by the Angolan State, with emphasis on high standard construction, residential areas, hotels, offices, golf courses and other interests. Yesterday, the company presented a model of residential projects and beyond, especially aimed at Angola.
On the part of the Emirati company, one of the Directors, Shawki Sejwani, and from Angola, the chairman of the Board of Directors of the Investment and Export Promotion Agency (AIPEX), António Henriques da Silva, in the presence of the Minister of State and Head of Civil House of the President of the Republic, Adão de Almeida, and of the president of DAMAC Properties, Hussain Sajwani. The document now signed resulted from the conversation held on March 25, 2022, in Luanda, during the audience granted by the Angolan Head of State, João Lourenço, to the president of the group Hussain Sajwani. At the time, the 69-year-old billionaire businessman confessed that he chose Angola to host the reputable investment, “because it is a very prominent country in Southern and Central Africa, but also because it has a very visionary leadership”. worthy. That’s why we want to do first-class and high-level business here”, said the businessman at the time.
DAMAC Properties was founded in 2002 and quickly became one of Dubai’s leading property developers. Created by Hussain Sajwani, the company has in its portfolio commercial and residential projects in Saudi Arabia, Oman, Lebanon, Jordan and the United Kingdom. So far, the company has delivered over 40,000 homes with a portfolio of several thousand other units in different stages of development. A notable development by the group is DAMAC Hills, a premium golf community offering townhouses, villas and apartments, as well as an array of world-class amenities and facilities. Other residential projects in Dubai include DAMAC Towers, Ghalia Constella, AKOYA by DAMAC and AKOYA Oxygen.
However, before the signing of the MOU, the Angolan delegation headed by the Minister of State and Chief of Staff of the President of the Republic, Adão de Almeida, visited most of the referred projects concentrated in Dubai. The delegation that has already returned to the country, in addition to the PCA of AIPEX, included the Minister of Public Works and Territorial Planning, Manuel Tavares de Almeida. PRESS DEPARTMENT OF THE EMBASSY OF ANGOLA IN THE UNITED ARAB EMIRATES, IN ABU DHABI, ON MAY 1, 2022.