Dubai Investments has entered into a strategic agreement with Angola’s Sovereign Wealth Fund (FSDEA). This agreement aims to drive collaboration on the development of large-scale real estate projects in Luanda Province, Angola.
The signing of the agreement in Luanda underscores a shared vision to foster a new era of investments in modern urbanisation and sustainable development within the Angolan capital. The initial focus of this partnership is on the development of Cazanga Island within the Luanda Archipelago, said a statement.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments signed the agreement with Armando Manuel, Chairman of the Board of FSDEA. Also present was Angola’s Secretary of State for Urban Planning, Manuel Canguezeze, representing the Minister of Public Works and Urbanism.
Commenting on the agreement Kalban said, “This is an important milestone for Dubai Investments as the group expands its footprint internationally. Dubai Investments first entered the Angolan market with the development of DIP Angola, an integrated mixed-use hub inspired by the group’s highly successful flagship development in the UAE.”
“This agreement with FSDEA marks the group’s second venture in the country and provides a strong platform to further extend Dubai Investments real estate expertise. With a 30-year legacy of delivering ambitious projects, the group is proud to contribute to the development of modern, sustainable communities in Luanda and reinforce its commitment to supporting Angola’s urban development journey,” he added.
As part of the agreement, the Angolan Sovereign Fund will participate in the investment through a special purpose vehicle that will hold the land rights for the designated areas. This structure allows Dubai Investments to leverage its development expertise to transform land already identified for real estate into modern, sustainable communities. This will unlock value for Angola’s urban and tourism potential, the statement explained.
Manuel added, “The signing of this agreement strengthens the Sovereign Wealth Fund’s commitment to mobilising international capital and know-how for the development of high-impact real estate and tourism projects in the country. We believe that the real estate sector, combined with tourism, has tremendous potential to transform the urban profile of our capital, enhancing its natural resources, coastline, and rich cultural heritage.”
The initial phase of this collaboration will focus on developing Cazanga Island within the Luanda Archipelago. This development will create new opportunities for urban, residential, and tourism-led projects in Angola. This partnership underscores Dubai Investments’ growing global presence and aligns with the UAE’s broader vision of fostering cross-border partnerships that drive sustainable growth, investment diversification, and urban innovation, the statement concluded.
Dubai Investments and Angola’s Sovereign Wealth Fund sign agreement for real estate development Middle East Construction News.
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