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Real Estate

Maianga: ‘Consolação’ building cost more than 40 million and has 39 apartments available

The result of an investment of more than 40 million dollars, the 'Consolação' building – recently inaugurated by the Minister of Public Administration, Labor and Social Security, Teresa Rodrigues Dias, in the urban district of Maianga – has a total of 39 apartments that will be leased, as well as offices and car parks.


Built from scratch, the building had an investment "in the order of 42 million dollars", an amount that the chairman of the Board of Directors of the National Institute of Social Security (INSS), Anselmo Monteiro, estimates that it will be recovered within a time horizon of 15 years old.

"In 'Consolação', the investment was in the order of 42 million dollars. We plan to recover that in at least 15 years, but a social security investment will always remain", he informed, quoted by Rádio Nacional de Angola (RNA).

Regarding the 39 apartments that make up the building, the official indicated that they will be leased: "Even the apartments (...) we are going to lease them and we have already leased the apartments in a perspective of 100 percent. can also help the economy not only in terms of real estate, but also in other sectors where it is deemed opportune and there is no substantial risk for Social Security resources to be made available to the economy".

In turn, the minister considered that "the real estate sector, both for its stability and for its income margins, is one of those areas of the economy that is understood as recommendable and suitable for investment in accordance with standards and good practices".

"In other words, to put it more simply, it is necessary to invest with prudence and assertiveness the available resources of our institute, that is, those that are not immediately necessary for the operational costs of mandatory social protection", she added, quoted by RNA.

He also made it known that "INSS accepted its investment strategy, thus leading to the construction of yet another imposing tower of apartments and offices in a 12-storey building", adding that "in terms of residential apartments, the 'Consolação' building presents 39 apartments with typologies T3, T2+1 and T2".

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