Ver Angola

Real Estate

Real estate seized by PGR is worth more than 500 million dollars

There are more than a thousand unfinished properties, buildings, shipyards and land built with public funds. They were apprehended by the Attorney General's Office (PGR) last Tuesday. Now, an official source has confirmed its real value: they are valued at more than 532 million dollars.


The properties would be owned by China International Fund Angola - under Angolan law - and China International Fund Hong Kong, based in China.

The location of the properties is divided between Zango Zero (Urbanização Vida Pacifica) and Kilamba. The first project is valued at 236 million dollars while the properties in Kilamba are worth 295 million.

According to a note from the PGR, cited by Angop, the ownership of these public goods would be attributed to two Angolan citizens, both shareholders of the company China International Fund Angola. They are Fernando Gomes dos Santos and Samora Borges Sebastião Albino.

Also according to the attorney general's office, the seizure of this state property is part of a criminal proceeding in the preparatory investigation phase. The two citizens whose name is associated with the properties may be accused of crimes of corruption, influence peddling, among others.

With respect to the China International Fund (Hong Kong), the PGR reported that investigations are ongoing in order to ascertain the real ownership of the company, which should be held criminally liable.

"These are housing projects built with state funds, but in practice they are managed by private companies", said the prosecutor's office in a statement, adding that after judgment, the goods could be returned to the state.

Also according to a PGR source, the occupancy rate of the properties, in the two centralities, is less than five percent.

PGR is investigating other projects built with public funds.


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